The annual inflation rate in South Africa edged down to 3.1 percent in December of 2020 from 3.2 percent in November and in line with market expectations, moving closer to the lower band of the South African Reserve Bank's target range of 3-6%. It was the lowest inflation rate since September, amid a slowdown in cost of housing & utilities (2.7 percent vs 2.9 percent in November) and a decrease in prices of transport (-1.6 percent vs -1.3 percent) and restaurant & hotels (-0.4 percent, after being flat in November). In contrast, food inflation hit an over three-year high (6 percent vs 5.8 percent), pushed up by prices of meat (7.3 percent); fruit (11.8 percent) and oils & fats (10.2 percent). On a monthly basis, consumer prices increased 0.2 percent, after being flat in November and matching market consensus. source: Statistics South Africa

Inflation Rate in South Africa averaged 8.84 percent from 1968 until 2020, reaching an all time high of 20.70 percent in January of 1986 and a record low of 0.20 percent in January of 2004. This page provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in South Africa is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in South Africa to stand at 4.30 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.50 percent in 2022 and 4.60 percent in 2023, according to our econometric models.

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South Africa Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.10 3.20 20.70 0.20 1968 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-28 08:00 AM Sep 3% 3.1% 3.1% 3.2%
2020-11-25 08:00 AM Oct 3.3% 3% 3.1% 3%
2020-12-09 08:00 AM Nov 3.2% 3.3% 3.2% 3.2%
2021-01-20 08:00 AM Dec 3.1% 3.2% 3.1% 3%
2021-02-17 08:00 AM Jan 3.1%
2021-03-24 08:00 AM Feb
2021-04-21 08:00 AM Mar
2021-05-19 08:00 AM Apr


News Stream
South Africa Inflation Rate Eases to 3.1% in December
The annual inflation rate in South Africa edged down to 3.1 percent in December of 2020 from 3.2 percent in November and in line with market expectations, moving closer to the lower band of the South African Reserve Bank's target range of 3-6%. It was the lowest inflation rate since September, amid a slowdown in cost of housing & utilities (2.7 percent vs 2.9 percent in November) and a decrease in prices of transport (-1.6 percent vs -1.3 percent) and restaurant & hotels (-0.4 percent, after being flat in November). In contrast, food inflation hit an over three-year high (6 percent vs 5.8 percent), pushed up by prices of meat (7.3 percent); fruit (11.8 percent) and oils & fats (10.2 percent). On a monthly basis, consumer prices increased 0.2 percent, after being flat in November and matching market consensus.
2021-01-20
South Africa Inflation Rate Slows to 3.2% in November
The annual inflation rate in South Africa eased to 3.2 percent in November of 2020 from 3.3 percent in the prior month and matching market expectations. The inflation remains well below 4.6 percent in February, before the coronavirus crisis. Prices slowed for alcoholic beverages & tobacco (3.8 percent vs 4.5 percent in October) and health (4 percent vs 4.1 percent) while cost continued to decrease for transport (-1.3 percent vs -0.5 percent) and communication (-0.4 percent, the same pace as in October). Meantime, inflation remained steady for furnishings (at 1.9 percent); clothing & footwear (at 0.2 percent); recreation & culture (at 1.8 percent) and education (at 6.4 percent). On a monthly basis, consumer prices were flat, after increasing 0.3 percent in October and compared market consensus of a 0.1 percent increase.
2020-12-09
South Africa Inflation Rate Rises More than Expected
The inflation rate in South Africa rose to a seven-month high of 3.3 percent in October of 2020 from 3 percent in the previous month and above market expectations of 3.1 percent. Still, the inflation remains well below 4.6 percent in February, before the coronavirus crisis. Prices advanced further for food and non-alcoholic beverages (5.4 percent vs 3.9 percent in September); household contents and services (1.9 percent vs 1.5 percent); health (2.9 percent vs 3.9 percent); and recreation and culture (1.8 percent vs 1.2 percent). On the other hand, cost slowed for housing and utilities (1.4 percent vs 2.8 percent); and miscellaneous goods and services (0.1 percent vs 6.5 percent). In addition, transport prices dropped 0.5 percent, after rising 0.3 percent in September. On a monthly basis, consumer prices went up 0.3 percent, following a 0.2 percent gain in the prior month and above forecasts of a 0.1 percent rise.
2020-11-25
South Africa Inflation Rate Falls to 3%
The inflation rate in South Africa slowed to 3 percent in September of 2020 from 3.1 percent in August and market expectations of 3.1 percent. The inflation remains well below 4.6 percent in February, before the coronavirus crisis. Main upward pressure came from cost of food and non-alcoholic beverages (3.9 percent); housing and utilities (2.8 percent); and miscellaneous goods and services (6.5 percent). The lowest contribution came from cost of household contents and services (1.5 percent); health (3.9 percent); and recreation and culture (1.2 percent). Transport prices edged up a meagre 0.3 percent and housing and utilities increased 2.8 percent. On a monthly basis, consumer prices edged up 0.2 percent, the same as in August and below forecasts of 0.3 percent.
2020-10-28

South Africa Inflation Rate
In South Africa, the most important categories in the consumer price index are Housing and Utilities (24.5 percent of total weight), Transport (16.4 percent) and Food and Non-Alcoholic Beverages (15.4 percent). Others include: Miscellaneous Goods and Services such as personal care, Insurance and Finance (14.7 percent); Alcoholic Beverages and Tobacco (5.4 percent); Household Contents, Equipment and Maintenance (4.8 percent); Recreation and Culture (4.1 percent); Clothing and Footwear (4.1 percent). Restaurants and Hotels, Education, Communication and Health account for the remaining 10 percent. The CPI basket was revised in January of 2013.