Inflation in South Africa

South Africa Inflation | Economic News & Forecasts

South Africa - Inflation

Inflation jumps on VAT hike in April

Consumer prices rose 0.8% in April from a month earlier, accelerating from March’s 0.4% uptick. April’s print was driven by higher transport prices, although gains were nearly broad-based across categories as VAT hikes came into effect. Meanwhile, core consumer prices—which exclude food and energy prices—rose 0.6% from a month earlier, easing from March’s 0.7% rise.

Inflation jumped to 4.5% from 3.8% a month earlier. Analysts overestimated the effect of the one-point tax hike; inflation came in below their 4.7% forecast, while also landing at the midpoint of the Central Bank’s 3.0%–6.0% target. Core inflation also sped up, rising to 4.5% from 4.1%. On the other hand, annual average inflation eased to 4.6% from 4.7%.

Met the why particular Consensus Forecast panelists see inflation averaging 5.1% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees inflation averaging 5.3%.

South Africa - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)5.8  6.1  4.6  6.3  5.3  

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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

ValueChangeDate
Bond Yield9.170.29 %Jun 19
Bond Yield9.170.29 %Jun 19
Exchange Rate13.78-0.21 %Jun 19
Exchange Rate13.78-0.21 %Jun 19
Stock Market0.1-0.44 %Jun 19
Stock Market0.1-0.44 %Jun 19

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