The annual inflation rate in South Africa fell to 4.1 percent in March of 2020 from 4.6 percent in February and below market expectations of 4.3 percent. It was the lowest inflation rate since last December, as prices slowed mostly for transport (3.4 percent vs 6.2 percent in February), namely fuels (5.5 percent vs 12.7 percent), on the back of falling oil prices amid the Covid-19 pandemic. Meanwhile, inflation edged higher food & non-alcoholic beverages (4.4 percent vs 4.2 percent); housing & utilities (4.8 percent vs 4.7 percent) and miscellaneous goods & services (6.4 percent vs 6.3 percent). On a monthly basis, consumer prices went up 0.3 percent, easing from a 1 percent rise in the prior month and compared with market consensus of a 0.5 percent increase.

Inflation Rate in South Africa averaged 8.92 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 June of 2020. source: Statistics South Africa

Inflation Rate in South Africa is expected to be 2.80 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 4.00 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.40 percent in 2021, according to our econometric models.

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South Africa Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.10 4.60 20.70 0.20 1968 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-01-22 08:00 AM Dec 4% 3.6% 4% 3.8%
2020-02-19 08:00 AM Jan 4.5% 4% 4.4% 4.3%
2020-03-18 08:00 AM Feb 4.6% 4.5% 4.5% 4.4%
2020-04-22 08:00 AM Mar 4.1% 4.6% 4.3% 4.3%
2020-06-24 08:00 AM May 3.4%
2020-06-24 08:00 AM Apr 4.1% 3.7%
2020-07-22 08:00 AM Jun 2.8%
2020-08-19 08:00 AM Jul


News Stream
South Africa March Inflation Rate at 3-Month Low of 4.1%
The annual inflation rate in South Africa fell to 4.1 percent in March of 2020 from 4.6 percent in February and below market expectations of 4.3 percent. It was the lowest inflation rate since last December, as prices slowed mostly for transport (3.4 percent vs 6.2 percent in February), namely fuels (5.5 percent vs 12.7 percent), on the back of falling oil prices amid the Covid-19 pandemic. Meanwhile, inflation edged higher food & non-alcoholic beverages (4.4 percent vs 4.2 percent); housing & utilities (4.8 percent vs 4.7 percent) and miscellaneous goods & services (6.4 percent vs 6.3 percent). On a monthly basis, consumer prices went up 0.3 percent, easing from a 1 percent rise in the prior month and compared with market consensus of a 0.5 percent increase.
2020-04-22
South Africa Inflation Rate at Over 1-Year High in February
The annual inflation rate in South Africa increased to 4.6 percent in February 2020 from 4.5 percent in January and above market expectations of 4.5 percent. It was the highest inflation rate since November 2018, as cost of food & non-alcoholic beverages rose the most in over 2 years (4.2 percent vs 3.7 percent in January), of which fruit (6.6 percent) and fish (6.3 percent). Also, prices advanced further for miscellaneous goods & services (6.3 percent vs 5.7 percent); clothing & footwear (2.3 percent vs 2.2 percent) and health (5.5 percent vs 5 percent). Meantime, inflation was steady for housing & utilities (at 4.7 percent). In contrast, cost slowed for transport (6.2 percent vs 6.4 percent); alcoholic beverages & tobacco (4.9 percent vs 5.2 percent); household contents & services (2.4 percent vs 2.7 percent) and restaurants & hotels (1.8 percent vs 2.4 percent). On a monthly basis, consumer prices went up 1 percent, the most since February 2017, after rising 0.3 percent in January.
2020-03-18
South Africa Inflation Rate Rises to 7-Month High
The annual inflation rate in South Africa rose to 4.5 percent in January 2020 from 4 percent in the previous month and above market expectations of 4.4 percent. It was the highest inflation rate since June last year, as prices shot up for transport (6.4 percent vs 3.3 percent in December), led by fuels (13.7 percent vs 2.4 percent) such as gasoline (15 percent); housing & utilities (4.7 percent vs 4.6 percent); miscellaneous goods & services (5.7 percent vs 5.4 percent); alcoholic beverages & tobacco (5.2 percent vs 5 percent); and health (5 percent vs 4.8 percent). Meanwhile, cost eased for food & non-alcoholic beverages (3.7 percent vs 3.9 percent); recreation & culture (0.8 percent vs 1.2 percent); household contents and services (2.7 percent vs 2.8 percent); and restaurants & hotels (2.4 percent vs 2.9 percent). On a monthly basis, consumer prices advanced 0.3 percent, the same pace as in December.
2020-02-19
South Africa Inflation Rises to 4% in December
The annual inflation rate in South Africa rose to 4 percent in December 2019 from 3.6 percent in the previous month, matching market expectations. Cost of food & non-alcoholic beverages increased further (3.9 percent vs 3.5 percent in November); and transport prices rebounded (3.3 percent vs -0.3 percent), of which fuels (2.4 percent vs -6.6 percent). On the other hand, prices slowed for housing & utilities (4.6 percent vs 4.8 percent); miscellaneous goods & services (5.4 percent vs 5.7 percent); recreation & culture (1.2 percent vs 1.3 percent); alcoholic beverages & tobacco (5 percent vs 5.1 percent); household contents and services (2.8 percent vs 2.9 percent); and restaurants & hotels (2.9 percent vs 3.2 percent). On a monthly basis, consumer prices went up 0.3 percent, after a 0.1 percent gain in November and in line with forecasts. Considering 2019 as a whole, the inflation rate was at 4.1 percent.
2020-01-22

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.