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.

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 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.

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.

Consumer Price Index CPI in South Africa increased to 101.20 points in February from 100.30 points in January 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.

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.

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.

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.

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

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.

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 March 2020, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 123.9 points regarding petrol. This is symbolizing an increase of 6.5 points from the previous year.

Producer Prices in South Africa increased 1.10 percent in January of 2025 over the same month in the previous year. This dataset provides the latest reported value for - South Africa Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of March 2020, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change of prices over time, was measured at 124.1 points regarding tertiary education. This is symbolizing an increase of 5.5 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.

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.

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 July 2024, the Consumer Price Index (CPI) in South Africa, an economic indicator providing information on the change in prices over time, was measured at 115.7 points regarding alcoholic beverages and tobacco. This is symbolizing an increase of 4.2 points from the same month in the previous year.

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.

The benchmark interest rate in South Africa was last recorded at 7.50 percent. This dataset provides - South Africa Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.