The annual inflation rate in South Africa stood at a three-month high of 5.9% in April of 2022, unchanged from the previous month and matching market forecasts. Still, this marks the 12th consecutive month in which annual inflation has been higher than the midpoint of the South African Reserve Bank's target range of between 3% and 6%. Main upward pressure came from prices of transportation (14.7%), namely fuels (29.2%); food & non-alcoholic beverages (6%), notably oils & fats (21.2%) and meat (8.5%); housing & utilities (4.8%), primarily electricity and other fuels (14.1%) and miscellaneous goods & services (3.8%), of which personal care (4.6%) and insurance (4%). The annual core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, quickened to 3.9% in April of 2022, the highest since October of 2019, from 3.8% in the prior month. On a monthly basis, consumer prices went up by 0.6%, slower than a 1% rise in March, almost in line with market expectations. source: Statistics South Africa
Inflation Rate in South Africa averaged 8.74 percent from 1968 until 2022, 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 May of 2022.
Inflation Rate in South Africa is expected to be 6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Inflation Rate is projected to trend around 5.00 percent in 2023 and 4.70 percent in 2024, according to our econometric models.