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 Rate in South Africa remained unchanged at 3.20 percent in February. This dataset provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of July 2024, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 123.5 points regarding food products. This is symbolizing an increase of five points from the previous year.

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.

As of June 2020, the projected inflation rate in South Africa for the same year was revised to 5.2 percent, after the fallout of the coronavirus outbreak. The projection was done under the assumption of a worst-case scenario, where the pandemic persists to the end of 2020. Before the occurrence of COVID-19, the inflation rate was expected at 4.7 percent.

On the other hand, the inflation rate for 2021 was reviewed to 4.6 percent, in a worst-case scenario, whereas the previous outlook (before the pandemic) was at five percent.

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.

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.

Inflation rate (GDP deflator) of South Africa slipped by 3.77% from 5.0 % in 2022 to 4.8 % in 2023. Since the 21.28% surge in 2021, inflation rate (GDP deflator) sank by 26.53% in 2023. 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. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

As of November 2023, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 111.2 points regarding supplies and services. This is an increase of 5.2 points from the previous year.

South Africa Consumer Price Index (CPI): Mpumalanga: Housing and Utilities data was reported at 115.000 Dec2021=100 in Dec 2024. This records an increase from the previous number of 114.400 Dec2021=100 for Nov 2024. South Africa Consumer Price Index (CPI): Mpumalanga: Housing and Utilities data is updated monthly, averaging 83.500 Dec2021=100 from Jan 2008 (Median) to Dec 2024, with 204 observations. The data reached an all-time high of 115.000 Dec2021=100 in Dec 2024 and a record low of 48.300 Dec2021=100 in Feb 2008. South Africa Consumer Price Index (CPI): Mpumalanga: Housing and Utilities data remains active status in CEIC and is reported by Statistics South Africa. The data is categorized under Global Database’s South Africa – Table ZA.I031: Consumer Price Index: by Region: Dec2021=100.

As of November 2023, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 112 points regarding medical products. This is an increase of 7.8 points from the previous year.

Core consumer prices in South Africa increased 3.40 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - South Africa Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

South Africa Consumer Price Index (CPI): Clothing and Footwear: Clothing data was reported at 107.300 Dec2021=100 in Dec 2024. This stayed constant from the previous number of 107.300 Dec2021=100 for Nov 2024. South Africa Consumer Price Index (CPI): Clothing and Footwear: Clothing data is updated monthly, averaging 89.350 Dec2021=100 from Jan 2008 (Median) to Dec 2024, with 204 observations. The data reached an all-time high of 107.300 Dec2021=100 in Dec 2024 and a record low of 63.100 Dec2021=100 in Jan 2008. South Africa Consumer Price Index (CPI): Clothing and Footwear: Clothing data remains active status in CEIC and is reported by Statistics South Africa. The data is categorized under Global Database’s South Africa – Table ZA.I012: Consumer Price Index: Dec2021=100.

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.

As of November 2023, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 111 points regarding medical services. This is an increase of six points from the previous year.

Key information about South Africa Producer Price Index Growth

• South Africa Producer Price Index (PPI) grew 1.1 % YoY in Jan 2025, compared with a growth of 0.7 % YoY in the previous month.
• South Africa Producer Price Index data is updated monthly, available from Jan 2013 to Jan 2025, with an average change of 5.5 % YoY.
• The data reached an all-time high of 18.0 % YoY in Jul 2022 and a record low of -0.7 % YoY in Oct 2024.

CEIC calculates Producer Price Index Growth from monthly Producer Price Index. Statistics South Africa provides Producer Price Index with base December 2023=100. Producer Price Index Growth covers Final Manufactured Goods only.

Aktualne wartości, dane historyczne, prognozy, statystyki, wykresy i kalendarz ekonomiczny - Republika Południowej Afryki - Inflacja. 1968-2022 Dane | 2023-2024 Prognozy TE.

As of November 2023, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 118 points regarding the transport industry. This is an increase of 4.9 points from the previous year.

The Gross Domestic Product (GDP) in South Africa expanded 0.60 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of November 2023, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 126.1 points regarding milk, eggs, and cheese. This is an increase of 15.4 points from the previous year.