Inflation Rate in South Africa remained unchanged at 2.80 percent in May. This dataset provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Historical chart and dataset showing South Africa inflation rate by year from 1960 to 2024.

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.

Core consumer prices in South Africa increased 3 percent in May 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.

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.

Cost of food in South Africa increased 4.80 percent in May of 2025 over the same month in the previous year. This dataset provides the latest reported value for - South Africa Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in South Africa was 2.16 percent. That number was released in . It shows an increase from the inflation rate in the previous month when it stood at 2.14 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 Inflation Rate MoM in South Africa decreased to 0 percent in May from 0.10 percent in April of 2025. This dataset includes a chart with historical data for South Africa Core Inflation Rate MoM.

Inflation across Sub-Saharan Africa has regularly fluctuated since the year 2000. In 2030, it is estimated that inflation had reached 18.33 percent, marking the largest annual change since the 2008 recession; however it is estimated that inflation will fall steadily in the coming years.

The Consumer Price Index in South Africa increased 0.20 percent in May 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.

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.

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.

South Africa: Inflation forecast: The latest value from 2030 is 4.5 percent, unchanged from 4.5 percent in 2029. In comparison, the world average is 3.65 percent, based on data from 182 countries. Historically, the average for South Africa from 1981 to 2030 is 7.73 percent. The minimum value, 0.3 percent, was reached in 2003 while the maximum of 19.23 percent was recorded in 1985.

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.

Inflation Expectations in South Africa decreased to 4.30 percent in the second quarter of 2025 from 4.60 percent in the first quarter of 2025. This dataset provides - South Africa Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

South Africa ZA: Inflation:(GDP) Gross Domestic ProductDeflator 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 data is updated yearly, averaging 7.938 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 24.879 % in 1980 and a record low of 0.383 % in 1962. South Africa ZA: Inflation:(GDP) Gross Domestic ProductDeflator 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. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; Median;

Key information about South Africa Consumer Price Index CPI growth

• South Africa Consumer Price Index (CPI) growth was measured at 6.8 % YoY in Apr 2023, compared with a rate of 7.1 % in the previous month.
• South Africa Consumer Price Index growth data is updated monthly, available from Jan 1958 to Apr 2023, with an averaged number of 6.3 % YoY.
• The data reached an all-time high of 20.9 % YoY in Jan 1986 and a record low of -2.0 % YoY in Jan 2004.

CEIC calculates Consumer Price Index Growth from monthly Consumer Price Index. Statistics South Africa provides Consumer Price Index with base December 2021=100. Consumer Price Index covers Urban areas only as it is the official index used for inflation calculation in South Africa. Consumer Price Index Growth prior to January 2009 is sourced from the International Monetary Fund. [COVID-19-IMPACT]

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.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for South Africa (CPGRLE01ZAA657N) from 2003 to 2022 about South Africa, core, all items, CPI, inflation, price index, indexes, and price.