The annual inflation rate in South Africa increased to 5.1 percent in October of 2018 from 4.9 percent in the previous month and in line with market expectations. It was the highest inflation rate since July, mainly driven by cost of transport. Inflation Rate in South Africa averaged 9.05 percent from 1968 until 2018, 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.

Inflation Rate in South Africa is expected to be 4.80 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 5.80 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 5.40 percent in 2020, according to our econometric models.

South Africa Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-19 08:00 AM Inflation Rate YoY 4.9% 5.1% 5.2% 5.2%
2018-10-24 08:00 AM Inflation Rate YoY 4.9% 4.9% 4.9% 5.1%
2018-11-21 08:00 AM Inflation Rate YoY 5.1% 4.9% 5.1% 5.3%
2018-12-12 08:00 AM Inflation Rate YoY 5.1% 5.0%
2019-01-23 08:00 AM Inflation Rate YoY 4.8%



South Africa Inflation Rate Rises to 3-Month High in October


The annual inflation rate in South Africa increased to 5.1 percent in October of 2018 from 4.9 percent in the previous month and in line with market expectations. It was the highest inflation rate since July, mainly driven by cost of transport.

Year-on-year, prices rose faster for transport (10.5 percent compared to 8.7 percent in September), mostly private transport operation (18.8 percent compared to 15.2 percent) and fuel (22.8 percent compared to 18.5 percent); recreation & culture (0.7 percent compared to 0.5 percent); clothing & footwear (2.0 percent compared to 1.9 percent) and communication (1.2 percent compared to 1.1 percent).

On the other hand, cost slowed for food & non-alcoholic beverages (3.4 percent compared to 3.9 percent); housing & utilities (5.2 percent compared to 5.3 percent); miscellaneous goods and services (5.4 percent compared to 5.5 percent); restaurant and hotels (4.2 percent compared to 4.6 percent) and health (5.0 percent compared to 5.4 percent). Also, inflation was steady for alcoholic beverages & tobacco (4.2 percent, the same as in September); household contents and services (3.0 percent) and education (6.7 percent).

Annual core inflation rate, which excludes cost of food, non-alcoholic beverages, petrol and energy, remained unchanged at 4.2 percent in October, the same as in September, and slightly below market consensus of 4.3 percent. Compared to July, core consumer prices went up 0.1 percent, easing from a 0.5 percent gain in the prior month.

On a monthly basis, consumer prices advanced 0.5 percent, the same as in the previous month and matching market expectations. 


Statistics South Africa | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/21/2018 8:21:37 AM



South Africa Prices Last Previous Highest Lowest Unit
Inflation Rate 5.10 4.90 20.70 0.20 percent [+]
Inflation Rate Mom 0.50 0.50 6.70 -0.70 percent [+]
Consumer Price Index CPI 109.40 108.90 109.40 1.20 Index Points [+]
Core Consumer Prices 108.30 108.20 108.30 63.30 Index Points [+]
Core Inflation Rate 4.20 4.20 8.30 2.90 percent [+]
Producer Prices 109.80 109.20 219.40 4.10 Index Points [+]
Producer Prices Change 6.20 6.30 8.80 2.61 percent [+]
Export Prices 151.10 149.00 155.50 0.60 Index Points [+]
Import Prices 141.70 141.40 143.60 1.20 Index Points [+]
Food Inflation 3.40 3.90 15.60 0.60 percent [+]
Inflation Expectations 5.59 5.42 8.72 3.90 Percent [+]
CPI Housing Utilities 109.40 109.40 109.40 56.80 Index Points [+]
CPI Transportation 115.30 112.40 116.90 81.70 Index Points [+]


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. This page provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Inflation Rate - actual data, historical chart and calendar of releases - was last updated on November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
5.10 4.90 20.70 0.20 1968 - 2018 percent Monthly




Country Last
Argentina 45.50 Oct/18
Australia 1.90 Sep/18
Brazil 4.56 Oct/18
Canada 2.20 Sep/18
China 2.50 Oct/18
Euro Area 2.20 Oct/18
France 2.20 Oct/18
Germany 2.50 Oct/18
India 3.31 Oct/18
Indonesia 3.16 Oct/18
Italy 1.60 Oct/18
Japan 1.20 Sep/18
Mexico 4.90 Oct/18
Netherlands 2.10 Oct/18
Russia 3.50 Oct/18
Saudi Arabia 2.10 Sep/18
Singapore 0.70 Sep/18
South Africa 5.10 Oct/18
South Korea 2.00 Oct/18
Spain 2.30 Oct/18
Switzerland 1.10 Oct/18
Turkey 25.24 Oct/18
United Kingdom 2.40 Oct/18
United States 2.50 Oct/18


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