South Africa' annual core inflation rate, which excludes cost of food, non-alcoholic beverages, fuel and energy, fell to 4.1 percent in April 2019 from 4.4 percent in the previous month, slightly below market expectations of 4.2 percent. It is the lowest rate since March 2018. Compared to the previous month, core consumer prices went up 0.3 percent, down from a 0.7 percent increase in March and in line with market forecasts. Core Inflation Rate in South Africa averaged 5.02 percent from 2009 until 2019, reaching an all time high of 8.30 percent in May of 2009 and a record low of 2.90 percent in January of 2011.
Core Inflation Rate in South Africa is expected to be 4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Core Inflation Rate in South Africa to stand at 5.00 in 12 months time. In the long-term, the South Africa Core Inflation Rate is projected to trend around 4.50 percent in 2020, according to our econometric models.