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.

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.

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.

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.

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...

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.

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.

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.

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.

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.

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.

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.

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.

Key information about South Africa Core CPI Change

• South Africa Core CPI Change was reported at 3.512 % in Jan 2025.
• This records a decrease from the previous number of 3.520 % for Dec 2024.
• South Africa Core CPI Change data is updated monthly, averaging 4.552 % from Jan 2009 to Jan 2025, with 193 observations.
• The data reached an all-time high of 8.457 % in May 2009 and a record low of 2.497 % in Mar 2021.
• South Africa Core CPI Change data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Core CPI: Y-o-Y Growth: Monthly.

CEIC calculates Core Consumer Price Index Growth from monthly Core Consumer Price Index. Statistics South Africa provides Core Consumer Price Index Growth with base December 2024=100. Core Consumer Price Index covers Urban areas only as it is the official index used for inflation calculation in South Africa. Core Consumer Price Index excludes Food, Non Alcoholic Beverages, Petrol and Energy.

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

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 Consumer Price Index in South Africa increased 0.90 percent in February of 2025 over the previous month. This dataset provides - South Africa Inflation Rate Mom - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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.