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.

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.

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 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.

As of June 2020, the projected inflation rate in South Africa for the same year was revised to *** 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 *** percent.

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

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.

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.

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.

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.

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.

Consumer Price Index CPI in South Africa increased to 102.10 points in May from 101.90 points in April 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.

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]

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.

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.

Unemployment Rate in South Africa increased to 32.90 percent in the first quarter of 2025 from 31.90 percent in the fourth quarter of 2024. This dataset provides - South Africa Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Abstract

The CPI is a current social and economic indicator constructed to measure changes over time in the general level of prices of consumer goods and services that households acquire, use, or pay for. The index measures changes in consumer prices over time by measuring the cost of purchasing a fixed basket of consumer goods and services of constant quality and similar characteristics. The products in the basket are selected to be representative of households' expenditure during a specific year. Such an index is called a fixed-basket price index. Changes in the index reflect the effects of price changes on the cost of achieving a constant standard of living.

The South African CPI has three equally important objectives: 1. To measure inflation in the economy so that macroeconomic policy is based on comprehensive and up-to-date price information. 2. To measure changes in the cost of living of South African households to promote equity in measures taken to adjust wages, grants, service agreements and contracts. 3. To provide a deflator for consumer expenditure in the national accounts and other economic data, to compute volume (as opposed to nominal) estimates.

In compiling the South African CPI, Stats SA largely follows the methodology guidelines in the 2020 Consumer Price Index Manual: Concepts and Methods published jointly by the International Monetary Fund, International Labour Organization, Statistical Office of the European Union, United Nations Economic Commission for Europe, Organisation for Economic Co-operation and Development, and World Bank.

Kind of data

Time-Series

Inflation in Africa variated deeply among the continent's regions. By 2022, the rate was projected at its highest in East Africa, at 24 percent. Few factors influenced the elevated price level in the region, such as reduced agricultural productivity and local issues, like the currency devaluation on domestic prices in Sudan. On the other hand, Central Africa recorded the lowest inflation rate in the continent, at three percent.

The Gross Domestic Product (GDP) in South Africa expanded 0.10 percent in the first quarter of 2025 over the previous quarter. This dataset provides - South Africa GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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