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.