Inflation in South Africa
South Africa - Inflation
Inflation edges up in October
Consumer prices grew 0.5% from the previous month in October, matching September’s reading. Higher costs in the transport component drove the result amid higher oil prices. To that effect, core consumer prices—which exclude food and energy prices—rose 0.1%, down from September’s 0.5%.
Inflation climbed to 5.1% in October (September: 4.9%), landing within the South African Reserve Bank (SARB)’s target band of 3.0%–6.0% but slightly below market analysts’ expectations. Core inflation and annual average inflation, meanwhile, were stable from September’s readings, at 4.2% and 4.6% respectively.
The SARB sees inflation averaging 5.7% in 2019 and 5.4% in 2020. Met the why particular Consensus Forecast panelists see inflation averaging 5.4% in 2019, which is unchanged from last month’s forecast. The panel projects inflation to end 2020 at 5.2%.
South Africa - Inflation Data
|Inflation Rate (CPI, annual variation in %)||5.8||6.1||4.6||6.3||5.3|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Inflation Chart
Source: Statistics South Africa.
South Africa Facts
|Bond Yield||9.17||0.29 %||Dec 11|
|Exchange Rate||14.42||-0.21 %||Dec 11|
|Stock Market||0.7||-0.44 %||Nov 27|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
November 21, 2018
Consumer prices grew 0.5% from the previous month in October, matching September’s reading.
November 9, 2018
A preliminary estimate showed that the manufacturing sector tapped the brakes in September.
November 5, 2018
In October, the Standard Bank Purchasing Managers’ Index (PMI) declined 1.1 points to 46.9 points, falling further below the 50-point threshold that distinguishes deterioration from improvement in the South African private sector. October’s reading was the worst in more than four years and reflected sharp declines in output and new orders as export demand continued to falter.
September 20, 2018
At its meeting ending 20 September, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) kept the repurchase rate unchanged at 6.50%.
September 11, 2018
A preliminary estimate showed that the manufacturing sector picked up steam in July.