Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

South Africa’s inflation has been quite stable for the past years, levelling off between 3.2 and 6.9 percent, and is in fact expected to stabilize at around 4.5 percent in the future. South Africa is a mixed economy, generating most of its GDP through the services sector, especially tourism. However, the country struggles with unemployment and poverty.

Inflation who?

The inflation rate of a country is an important key factor to determine the country’s economic strength. It is calculated using the price increase of a defined product basket, containing goods and services on which the average consumer spends money throughout the year. They include, for example, expenses for groceries, clothes, rent, utilities, but also recreational activities, and raw materials (e.g. gas, oil), as well as federal fees and taxes. Some of these goods are more volatile than others – food prices, for example, are considered less reliable. The European Central Bank aims to keep inflation at around two percent in the long run.

What happened in 2016?

In 2016, South Africa’s inflation rate peaked at over 6.3 percent, and gross domestic product, and thus economic growth , took a hit, a sure indicator that something was affecting the country’s economic scaffolding: Low growth due to weak demand and an uncertain political future caused a crisis; then-President Jacob Zuma’s alleged mismanagement and unstable reign steeped in controversy and criminal charges even caused the economy’s outlook to be downgraded by ratings agencies. Zuma was relieved of his office in 2018 – ever since, inflation, GDP, and economic growth seem to have stabilized.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in South Africa was 2.46 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 2.53 percent. Compared to a year ago, we see a decrease from...

The average inflation rate in Southern Africa was projected at seven percent in 2022. This represented a decrease in comparison to the previous years. In 2020, the rate reached a peak at 12 percent.

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

In 2024, Zambia had the highest estimated inflation (Consumer Price Index) recorded in Southern Africa, at 15 percent. Lesotho and Zimbabwe followed with 6.4 and six percent, respectively.

Inflation across Sub-Saharan Africa has regularly fluctuated since the year 2000. In 2023, it is estimated that inflation had reached 17.58 percent, marking the largest annual change since the 2008 recession; however it is estimated that inflation will fall steadily in the coming years.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for South Africa (CPGRLE01ZAQ657N) from Q2 2002 to Q3 2023 about South Africa, core, all items, CPI, inflation, price index, indexes, and price.

Core Inflation Rate MoM in South Africa increased to 0.20 percent in January from 0 percent in December of 2024. This dataset includes a chart with historical data for South Africa Core Inflation Rate MoM.

Inflation Expectations in South Africa decreased to 4.30 percent in the first quarter of 2025 from 4.50 percent in the fourth quarter of 2024. This dataset provides - South Africa Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The inflation rate for both Africa, the Middle East, and Latin America and the Caribbean reached more than 12 percent in 2023. Among the provided continents or regions, Asia and the Pacific had the lowest inflation rate that year. Consumer prices increased around the world following the COVID-19 pandemic and the Russian invasion of Ukraine. Inflation and food security Increases in food costs are one of the most prominent impacts of inflation globally. In the United Kingdom, for example, consumers have indicated that they have worried more about food costs in 2023 than in previous years. Meanwhile, in Canada, only a small fraction of survey respondents have said that inflation has had little impact on household food costs. Consumers have responded to rising food costs through various coping mechanisms. For example, Italian consumers have indicated that they purchase less unnecessary products, cut down on waste, and buy more discounted items in order to save costs. Changing consumer behvaiors Outside of food consumption, consumers have changed their purchasing behaviors with other types of goods and services. Surveying has indicated that nearly 60 percent of consumers have adjusted their shopping habits due to inflation. When holiday shopping in 2023, over 50 percent of Americans and over one third of British consumers said inflation had considerable impact on their holiday shopping. By generation, the Millenial generation has suffered the most due to rising inflation, while older generations have experienced less serious impacts.

As of April 2022, the food inflation rate in South Africa stood at six percent compared to the same month last year. Food prices have been following a fluctuating increasing trend. For instance, food inflation was at 2.9 percent in January 2019, whereas by April 2022 it amounted to six percent.

Consumer Price Index CPI in South Africa increased to 101.20 points in February from 100.30 points in January of 2025. This dataset provides the latest reported value for - South Africa Consumer Price Index (CPI) - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

South Africa ZA: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 5.537 % in 2017. This records a decrease from the previous number of 6.774 % for 2016. South Africa ZA: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 7.555 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 15.652 % in 1991 and a record low of 5.121 % in 2015. South Africa ZA: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Africa – Table ZA.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

South Africa CPI Inflation Expectation: Households: Average Price Increase data was reported at 5.580 % in Jun 2018. This records an increase from the previous number of 5.167 % for Mar 2018. South Africa CPI Inflation Expectation: Households: Average Price Increase data is updated quarterly, averaging 6.662 % from Sep 2000 (Median) to Jun 2018, with 72 observations. The data reached an all-time high of 11.400 % in Dec 2009 and a record low of 3.100 % in Mar 2005. South Africa CPI Inflation Expectation: Households: Average Price Increase data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.I049: Inflation Expectation.

South Africa CPI Inflation Expectation: All Participants: Two Years Ahead data was reported at 5.583 % in Sep 2018. This records an increase from the previous number of 5.488 % for Jun 2018. South Africa CPI Inflation Expectation: All Participants: Two Years Ahead data is updated quarterly, averaging 5.954 % from Sep 2000 (Median) to Sep 2018, with 73 observations. The data reached an all-time high of 8.500 % in Mar 2003 and a record low of 4.000 % in Jun 2005. South Africa CPI Inflation Expectation: All Participants: Two Years Ahead data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.I049: Inflation Expectation.

South Africa CPI Inflation Expectation: Business Representative: Two Years Ahead data was reported at 5.801 % in Sep 2018. This records an increase from the previous number of 5.703 % for Jun 2018. South Africa CPI Inflation Expectation: Business Representative: Two Years Ahead data is updated quarterly, averaging 6.400 % from Sep 2000 (Median) to Sep 2018, with 73 observations. The data reached an all-time high of 8.831 % in Jun 2008 and a record low of 4.000 % in Jun 2005. South Africa CPI Inflation Expectation: Business Representative: Two Years Ahead data remains active status in CEIC and is reported by Bureau for Economic Research. The data is categorized under Global Database’s South Africa – Table ZA.I049: Inflation Expectation.

Graph and download economic data for Real Effective Exchange Rate as Based on Consumer Price Index for South Africa (ZAFEREERIX) from 2000 to 2023 about consumer prices, South Africa, REO, exchange rate, consumer, real, rate, and indexes.

Graph and download economic data for Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Total for South Africa (ZAFCPIALLMINMEI) from Jan 1957 to Jan 2025 about South Africa, all items, CPI, price index, indexes, and price.

Zimbabwe had the highest inflation in Africa as of 2023. The rate reached roughly 172 percent when compared to the previous year, according to the source's estimates. This was followed by Sudan, with a rate increase of over 71 percent. Inflationary pressures in the country have been driven by a long-running economic crisis and political instability. By the end of 2021, the already fragile Sudanese economy suffered again when military forces took control of the government. With a