The annual inflation rate in South Africa stood at 5% in October of 2021, unchanged from the previous month, in line with expectations, remaining above the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range of 3-6% for six consecutive months. Upward pressure came mostly for prices of transport (10.9% vs 10.1% in September); of which fuels (23.1%) and the purchase of vehicles (5.1%); food & non-alcoholic beverages (6.1% vs 6.6%); housing & utilities (4%, the same pace as in September), primarily electricity and other fuels (14%) and miscellaneous goods & services (4.3%, the same pace as in September). On a monthly basis, consumer prices went up 0.2%, the same pace as in the prior month and matching market forecasts. source: Statistics South Africa

Inflation Rate in South Africa averaged 8.77 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 December of 2021.

Inflation Rate in South Africa is expected to be 4.50 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 4.30 percent in 2022 and 4.60 percent in 2023, according to our econometric models.

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South Africa Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-20 08:00 AM Sep 5% 4.9% 5% 5.1%
2021-11-17 08:00 AM Oct 5% 5% 5% 5.1%
2021-12-15 08:00 AM Nov 5% 4.7%


Related Last Previous Unit Reference
Inflation Rate 5.00 5.00 percent Oct/21
Inflation Rate Mom 0.20 0.20 percent Oct/21
Consumer Price Index CPI 122.90 122.60 points Oct/21
Core Inflation Rate 3.20 3.20 percent Oct/21
Core Consumer Prices 120.10 119.90 points Oct/21
Producer Prices 107.90 107.20 points Oct/21
Producer Prices Change 8.10 7.80 percent Oct/21
Food Inflation 6.10 6.60 percent Oct/21
CPI Transportation 127.70 127.10 points Oct/21
CPI Housing Utilities 122.60 122.60 points Oct/21

News Stream
South Africa October Inflation Rate Steady at 5%
The annual inflation rate in South Africa stood at 5% in October of 2021, unchanged from the previous month, in line with expectations, remaining above the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range of 3-6% for six consecutive months. Upward pressure came mostly for prices of transport (10.9% vs 10.1% in September); of which fuels (23.1%) and the purchase of vehicles (5.1%); food & non-alcoholic beverages (6.1% vs 6.6%); housing & utilities (4%, the same pace as in September), primarily electricity and other fuels (14%) and miscellaneous goods & services (4.3%, the same pace as in September). On a monthly basis, consumer prices went up 0.2%, the same pace as in the prior month and matching market forecasts.
2021-11-17
South Africa Inflation Rate Rises for 2nd Month
The annual inflation rate in South Africa accelerated for a second consecutive month to 5% in September of 2021 from 4.9% in the previous month, in line with expectations, and remaining above the 4.5% midpoint target from the South African Reserve Bank. Main upward pressure came from prices of transport (10.1% vs 9.9% in August), particularly fuels (19.9% vs 19.6%). The price of inland 95-octane petrol reached an all-time high of ZAR 18,34 per litre in September 2021. Other upward pressure came from cost of housing & utilities (4% vs 3.8%), such as electricity & other fuels (14% vs 13.9%) and owner’s equivalent rent (1.3% vs 1%); and food & non-alcoholic beverages (6.6% vs 6.9%), namely oils & fats (22.4% vs 21.3%) and meat (10.3% vs 10.7%). On a monthly basis, consumer prices ticked up 0.2%, slowing from a 0.4% gain in the prior month and almost in line with forecasts of a 0.25% rise.
2021-10-20
South Africa August Inflation Rate Rises to 4.9%
The annual inflation rate in South Africa quickened to 4.9% in August of 2021 from 4.6% in July, slightly above market expectations of 4.8% and the 4.5% midpoint of the South African Reserve Bank’s monetary policy target range of 3-6%. Main upward pressure came from prices of transport (9.9% vs 8% in July), of which fuels (19.6% vs 15.2%); food & non-alcoholic beverages (6.9% vs 6.7%), namely oils & fats (21.3% vs 22.4%) and meat (10.7% vs 9.4%); miscellaneous goods & services (4.2%, the same as in July) and housing & utilities (3.8%, the same as in July), such as electricity and other fuels (13.9% vs 13.6%). On a monthly basis, consumer prices went up 0.4%, easing from a 1.1% rise in the prior month but slightly above market forecasts of a 0.3% increase.
2021-09-22

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.