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.