Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation accelerates to over 13-year high in July

Consumer prices increased 1.54% in July over the previous month, picking up from June's 1.07% increase. July's uptick was the highest reading since January 2008. The result was largely driven by increasing prices for housing and utilities. In addition, price pressures for transportation increased at a faster rate.

Inflation came in at 7.8% in July, up from June’s 7.4%. July's result was the highest inflation rate since April 2009. Consequently, the trend pointed up slightly, with annual average inflation coming in at 5.9% in July (June: 5.7%). Lastly, core inflation ticked up to 4.6% in July, from June’s 4.4%.

FocusEconomics Consensus Forecast panelists see inflation averaging 6.6% in 2022, which is up 0.2 percentage points from last month’s estimate, and 5.1% in 2023.

South Africa - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)4.6  6.3  5.3  4.6  4.1  

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South Africa Inflation Chart


South Africa Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistics South Africa.

South Africa Facts

Value Change Date
Bond Yield8.260.29 %Dec 31
Exchange Rate13.98-0.21 %Dec 31
Stock Market0.1-0.44 %Jan 06

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