The annual inflation rate in South Africa rose to 4.4% in April of 2021 from 3.2% in March, slightly above market expectations of 4.3% and moving closer to the 4.5% midpoint of the South African Reserve Bank's target range of 3-6%. It was the highest inflation rate since February of 2020, boosted by prices of transport (10.6% vs 3.8%), following record increases in fuels (21.4% vs 2.3% in March) due to rising global oil prices; food & non-alcoholic beverages (6.3% vs 5.7%), namely oils & fats (16.7% vs 13.4%); housing & utilities (2.3% vs 2.2%), mostly electricity and other fuels (6.4% vs 6%) and miscellaneous goods & services (4%, the same pace as in March). On a monthly basis, consumer prices were up 0.7%, the same pace as in the prior month and slightly above market estimates of 0.6%. source: Statistics South Africa
Inflation Rate in South Africa averaged 8.80 percent from 1968 until 2021, 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 2021.
Inflation Rate in South Africa is expected to be 4.70 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 4.60 in 12 months time. In the long-term, the South Africa Inflation Rate is projected to trend around 4.40 percent in 2022 and 4.50 percent in 2023, according to our econometric models.