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.

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.

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.

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.

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.

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.

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.

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.

Kenya's inflation rate decreased to 3.6 percent in September 2024. The indicator measure price variations in goods and services compared to the same month one year earlier. In September 2023, inflation in Kenya stood at 6.8 percent. The current country’s Consumer Price Index (CPI) increased by 0.26 percent compared to the previous month, mainly due to higher prices in food and transport. For 2023, projections indicated that the annual average inflation for Kenya would be above above the rate projected in other African countries, such as South Africa and Tanzania, at almost eight percent. Inflation accelerated by food prices Kenyans feel the inflation effects mostly on groceries since food and non-alcoholic beverages account for roughly one-third of the household expenditure. As of May 2022, the category recorded a surge in prices of 12.4 percent. Furthermore, a deep look into food prices variations in Kenya reveals that vegetables, tubers, plantains, cooking bananas, and pulses were 20 percent more expensive in 2020, compared to 2019. Fruits and nuts recorded an inflation rate of 18.2 percent in the same period. Impacts on food security Fluctuating food prices in Kenya also depend on the varying domestic agricultural output. Particularly, when weather conditions are unfavorable, crop outputs are affected and, consequently, food prices increase - a scenario contributing to the persistence of food insecurity. For instance, around eight million people lacked sufficient food for consumption in Kenya as of November 2021.

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.

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 benchmark interest rate in South Africa was last recorded at 7.25 percent. This dataset provides - South Africa Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar 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]

As of October 2024, the Consumer Price Index (CPI) headline rate in South Africa, an economic indicator providing information on the overall change in the price of goods and services purchased by households over time, was measured at 2.8 points. This showed a decrease of one point from the previous month. Since January 2020, the CPI headline rate has fluctuated, however, a decreasing trend can be observed from February 2024.

South Africa Foodservice Market size was valued at USD 341.30 Billion in 2024 and is projected to reach USD 535.82 Billion by 2032, growing at a CAGR of 5.8% from 2026 to 2032.

South Africa Foodservice Market Drivers

Rising Vehicle Prices and Cost-Conscious Consumer Behavior: According to Eurostat data, new car prices in the EU increased by 29% between 2015 and 2023, greatly above the overall inflation rate. This sharp increase has resulted in a 24% increase in used car sales in major markets such as Germany, France, and Spain between 2022 and 2023, according to the European Central Bank, with cost-conscious consumers choosing for more cheap options. This trend is fueling development in the used car market by addressing the desire for low-cost solutions amid rising living costs and economic uncertainty.

Environmental Regulations and Sustainability Concerns: According to the European Environment Agency, approximately 45% of European consumers will favor environmental concerns when purchasing used vehicles over new ones by 2023. The European Commission stated that acquiring a used automobile can reduce carbon emissions by up to 35% throughout its lifetime, resulting in a 19% increase in eco-conscious customers joining the used car market. This trend drives the market by coinciding with rising customer demand for environmentally friendly options and governmental demands to decrease carbon footprints.

Digital Transformation and Online Sales Platforms: According to the European Automobile Manufacturers Association, transaction volumes for online used automobile sales platforms increased by 156% between 2020 and 2023. The European Digital Economy and Society Index reports that 68% of used automobile purchases in Europe now take place through digital platforms, a 40% increase from 2019. This digital change propels the used car market by giving buyers better convenience, a wider range of options, and transparency, while sellers profit from increased reach and simplified sales processes.

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

Graph and download economic data for Real Gross Domestic Product for South Africa (ZAFNGDPRPCPPPT) from 2000 to 2026 about South Africa, REO, real, GDP, and rate.