South African Inflation. 2020 3:00AM EST. Historic inflation South Africa (CPI) - This page features an overview of the historic South African inflation: CPI South Africa. 3.5. This was broad-based and reflective of the agriculture commodity price increases we have observed in the past few months. 0.41 %. According to the Statistical Service of Cyprus (CYSTAT), the drop mainly reflected a sharp decline in prices for transport, and housing and utilities. Consumer prices rose 0.17% from the previous month in August, coming in below the 1.31% rise logged in July and marking the softest rise in prices since May. Label. Q1.20 Macro-economic outlook 2020-2025: South Africa sees its growth outlook sag further on lack of sufficient regulatory reforms and repair 10th January 2020 Figure 3: Summary, % real growth rates (incl. Jun 1998. In other words, the purchasing power of R100 in 1958 equals R9,804.63 in 2021. The monthly increase in the consumer price index (CPI) in July was 1,1%, the highest monthly jump since July 2020 when the CPI increased by 1,3%. This means that 100 rand in 1958 are equivalent to 9,804.63 rand in 2021. Graph CPI South Africa long-term. The result was largely driven by moderating price pressures for housing and utilities as well as for transportation. The inflation rate in South Africa between 1958 and 2021 was 9,704.63%, which translates into a total increase of R9,704.63. 1998-2022. South Africa: Inflation recedes in August. This involves inflation based on the CPI (consumer price index) and the HICP (harmonised consumer price index).The CPI is often considered a country's most important inflation figure. In a statement, Statistics South Africa (Stats SA) said the monthly move in July was . november 2021 - october 2021. The Laspeyres formula is generally used. Producer prices in South Africa soared by 10.8% from a year earlier in December of 2021, up from a 9.6% rise in November and above market expectations of a 10.2% jump. In 2020, inflation rate for South Africa was 3.3 %. South Africa: Inflation slides in November. Line Bar Map. Changes in the prices of gin and cappuccino sachets will be monitored to help determine South Africa's monthly inflation rate after the statistics agency added them to a list of 415 goods and . Inflation South Africa 2020 (CPI) - The inflation chart and table below feature an overview of the South African inflation in 2020: CPI South Africa 2020. 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. 1.24. Inflation, consumer prices (annual %) International Monetary Fund, International Financial Statistics and data files. The City of Tshwane is the capital of South Africa and is the largest municipality, as measured by land mass. In November 2019 it was 3.6%. Consumer prices rose 3.1% from a year earlier, compared with 3.2% in July, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. Table - current inflation South Africa (CPI) - last 12 months. The mission of the South African central bank is to achieve and maintain price stability and protect the value of the currency, the rand. When we talk about the rate of inflation in South Africa, this often refers to the rate of inflation based on the consumer price index, or CPI for short. South African Inflation. Food Inflation in South Africa averaged 6.08 percent from 2009 until 2021, reaching an all time high of 15.60 percent in February of 2009 and a record low of 0.60 percent in June of 2010. South African Reserve Bank. Policy debates over South Africa's interest rate policy under inflationtargeting include refere- nce South Asia inflation rate for 2020 was 5.69%, a 2.07% increase from 2019. South Africa's food price inflation averaged 3.1% y/y in 2019, which is well below market expectations. Aggregates. South Africa's headline consumer price inflation slowed to 3.2% year-on-year in November from 3.3% in October, data from Statistics South Africa showed on Wednesday. . The South African CPI shows the change in prices of a standard package of goods and services which . An item that cost 100 Rand in 1979 was so . South African 100 rand banknotes against a black background in South Africa. Inflation Rate in South Africa increased by 5.7 % in January 2022 over the same month in the previous year. Data published Monthly by Statistics. For 2020, an inflation rate of 3.2% was calculated. More S. Africa Rate Cuts Now Hinge On Forecast for Economy Central bank said in July it sees GDP shrinking 7.3% this year Inflation is not an immediate concern for the central bank Inflation softens for a second month. Consumer prices fell 1.5% from the previous month in April, following March's 0.1% month-on-month uptick. Annual consumer price inflation edged lower to 4,6% in July from 4,9% in June and 5,2% in May. South African new car buyers were collectively paying purchase prices above the inflation rate for the third consecutive quarter in Quarter 4 (Q4) in 2020 and price are continuing to climb "well . Looking at the details of the release, prices for housing and utilities, as well . The average annual inflation rate for 2020 was 3.3%, according to the December 2020 Consumer Price Index (CPI) released by StatsSA on Wednesday. . Month-over-month CPI posted a 0.2% gain. Though South Africa inflation rate fluctuated substantially in recent months, it tended to increase through December 2020 - November 2021 period ending at 5.5 % in November 2021. Annual consumer prices rose 2.1% in May, slowest since 2004. The inflation rate is based upon the consumer price index (CPI). South Africa's annual consumer inflation edged up to 4% in December 2019, a slight rise from November's 3.6% figure. IMF agree with OECD and UN that following year will show the increase of inflation. 0.54. 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 . South Africa inflation accelerates to 3.2% in July. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. This is the lowest annual average rate since 2004 (1,4%) and the second lowest since 1969 (3,0%). South Africa's consumer food price inflation going into 2022. The SARB's monetary policy is based on an inflation target which currently works with a range of 3 to 6 percent on a rolling basis (CPI). November's reading marked the weakest result since May. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). The trend of the inflation rate since 2010 could be called upward if there was no decline in 2012 and 2014. Same region. In a year of large crop harvests following good rainfall, a few people probably thought consumer food price inflation would accelerate as we have witnessed in the past ten months, averaging 6,6% y/y (compared with 4,5% y/y in 2020). The months from January 1960 to December 2021 are supported. South Africa inflation rate for 2018 was 4.50%, a 0.68% decline from 2017. 5.48 %. December 9, 2021 The maximum level was 20.7 % and minimum was 0.2 %. Though South Africa inflation rate fluctuated substantially in recent years, it tended to decrease through 2001 - 2020 period ending at 3.3 % in 2020. After a month below 3,0%, annual headline inflation quickened slightly to 3,2% in March from 2,9% in February, rising back into the South African Reserve Bank's inflation target range of 3-6%. South Africa: Manufacturing activity contracts at sharpest pace since August 2020 in October. When we talk about the rate of inflation in South Africa, this often refers to the rate of inflation based on the consumer price index, or CPI for short. The continued sharp increases in food price inflation from 3.4 percent in 2019, to 4.6 percent in 2020 and to an estimated 5.4 percent in 2021, remains a concern in South Africa.. 1.5. Agriculture during the covid-19 period; We started 2020, and the onset of covid-19, with food price inflation still on the subdued path. What many analysts seem to have underestimated was the length of the period that meat prices would remain subdued for, and its influence thereafter on the overall food price inflation headline number. In the US, the official inflation rate remains at 5.4%. South Africa inflation rate for 2017 was 5.18%, a 1.41% decline from 2016. Looking at the details of the release, transportation prices fell at a quicker pace compared to the previous month, while prices . Oct 1, 2021. That was the highest producer inflation rate since at least January of 2013. residual) 2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 Consumer prices rose 0.49% in November over the previous month, accelerating from October's 0.24% increase. Consumer prices rose 0.17% from the previous month in August, coming in below the 1.31% rise logged in July and marking the softest rise in prices since May. This table shows the change in house prices during a single quarter, adjusted for inflation. The average annual inflation rate between these periods was 7.55%. Earlier, Statistics South Africa said that consumer prices increased by 5% in November. In South Africa, the interest rates decisions are taken by the South African Reserve Bank's Monetary Policy Committee . Historical Data (%) by years. In November 2021, inflation rate for South Africa was 5.5 %. Most recent CPI South Africa (inflation figure) 5.479 %. South Africa's food price inflation accelerated to 5.6% y/y in October 2020 from 4.2% in the previous month, and well above the average of 4.4% for the first nine months of the year. Inflation Expectations in South Africa increased to 4.81 percent in the fourth quarter of 2021 from 4.42 percent in the third quarter of 2021. inflation (yearly basis) inflation. 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 121 points regarding health products. This is due to its inflationary role in the general Consumer Price Inflation (CPI . The main contributors to the rise in producer prices were coke, petroleum, chemical, rubber and plastic products (25.8%); food products, beverages and . (link is external) The continued sharp increases in food price inflation from 3.4 percent in 2019, to 4.6 percent in 2020 and to an estimated 5.4 percent in 2021, remains a concern in South Africa. License : CC BY-4.0. September 30, 2020. Both indicators are published on a monthly basis.The . South Africa's inflation rate jumped to the highest level in almost five years in November, underscoring the difficult choice the central bank faces in striking a balance between taming price . South Africa: Inflation recedes in August. 1960 - 2020 Overall, the price increase was 3,159.41 %. Inflation, consumer prices (annual %) - South Africa. Source: Stats SA, Agbiz Research. The months from January 1960 to December 2021 are supported. During the observation period from 1979 to 2020, the average inflation rate was 9.0% per year. . . Inflation 2020 (CPI) - The inflation table on this page features an overview of the inflation by country in 2020: CPI inflation 2020. Inflation below target range for first time in 15 years. Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 100.99 Amplitude adjusted Long-term average = 100 Jan-2022 South Africa Long-term average = 100 FDI stocks Indicator: 83.1 Outward % of GDP 2020 South Africa % of GDP Outward The description is composed by our digital data assistant. South Asia inflation rate for 2019 was 3.63%, a 0.29% increase from 2018. are the two primary measures of inflation for South Africa. International Monetary Fund, International Financial Statistics and data files. Today, inflation is running at a rate of close to 4 percent, driven by the near record-high price of fuel and higher food costs. Inflation Expectations in South Africa averaged 5.90 percent from 2000 until 2021, reaching an all time high of 8.72 percent in the third quarter of 2008 and a record low of 3.90 percent in the first quarter of 2005. Inflation soars to 3.2% in July. Further, the Bureau for Economic Research is now forecasting 4.8% ( previously 5.0%) and the Reuters Econometer survey 4.6% (4.7%). License: CC BY-4.0 Line Bar Map. South Africa: Inflation jumps to near five-year high in November. 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 115.6 points regarding the . South Africa's headline consumer price inflation quickened to 4.9% year on year in August from 4.6% in July, data from Statistics South Africa showed on Wednesday. Photographer: Waldo Swiegers/Bloomberg. Most recent CPI South Africa (inflation figure) 5.479 %. rate that stands at 6.25 per cent in February 2020—has been consistently higher than that of comparable countries, at least until the pandemic-induced recession that triggered a cut of 100 basis points in the following months. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). March 2021: Headline inflation back in the 3-6% target range. Share Details. For an overview of current inflation in South Africa, click here The South African CPI shows the change in prices of a standard package of goods and services which . Read more. Average consumer inflation for 2021 was 4,5%, higher than the averages recorded for 2020 (3,3%) and 2019 (4,1%). None. South Africa - Inflation Inflation comes in at highest level since March 2017 in December. At 2.1% year-on-year in May . In the first three quarters of the year, South Africa's food price inflation averaged 4,4% y/y, which is up marginally from the previous year's rate of 3,1% y/y. Two inflation rates are being presented: the annual inflation 2020 - comparing the december CPI of 2020 to the december CPI of the year before and Recently inflation has tended to surprise on the downside and, given that inflation expectations remain elevated at around 5%, this is likely to continue. According to figures released by Statistics SA on Wednesday, the annual consumer price index decreased to 4.1% year-on-year in March 2020, from 4.6% in February 2020. Two overviews are being presented: the annual inflation by year for South Africa - comparing the december CPI to the december CPI of the year before and South Africa's headline consumer price inflation quickened to 4.9% year on year in August from 4.6% in July, data from Statistics South Africa showed on Wednesday. With the lockdown gradually easing, the annual consumer price index (CPI) rose to 3.2%, up from 2.2% in June. Growth in South Africa's consumer prices fell to its lowest in more than 15 years as the cost of fuel declined and spending slowed amid the coronavirus lockdown. South Africa: Food Price Inflation Causes Concern For Consumers. Consumer prices dipped 1.2% on an annual basis in April, after inflation . The . This is according to data released on Wednesday 22 January 2020 by Stats SA . This is the lowest annual average rate since 2004 (1.4%) and the second-lowest since 1969 (3%). inflation (monthly basis) inflation. South Asia inflation rate for 2017 was 4.52%, a 0.35% increase from 2016. Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers. South Africa, July 14, 2020 . This is due to its According to OECD, consumer price inflation in South Africa reached the peak of 8.8% in 2008. That was the steepest inflation rate since March of 2017, mainly pushed up by prices of transport (16.8% vs 15% in November), amid a record rise in fuels (40.5 . The inflation rate is based upon the consumer price index (CPI). Month Inflation Index Inflation Percentage; 2021, December: 124.2: 5.88 % : 2021, November: 123.5: 5.47 % : 2021, October Inflation South Africa 2021 (CPI) - The inflation chart and table below feature an overview of the South African inflation in 2021: CPI South Africa 2021. December's uptick marked the highest reading since July. December 15, 2021. The inflation rate for consumer prices in South Africa moved over the past 41 years between -0.7% and 18.7%. With the lockdown gradually easing, the annual consumer price index (CPI) rose to 3.2%, up from 2.2% in June. South Africa's headline inflation rate dipped in March, after sustained increases since November 2019 saw the annual consumer price index reach a 15-month high in February. At the January MPC meeting, the new forecast for inflation was 4.7% for 2020; significantly lower than the previous 5.1%. Wednesday, August 26, 2020. Jul 2020. The increase was the biggest monthly rise since February 2016, when the rate was 1.4%. The continued sharp increases in food price inflation from 3.4 percent in 2019, to 4.6 percent in 2020 and to an estimated 5.4 percent in 2021, remains a concern in South Africa. May 7, 2020. . The inflation rate is based upon the consumer price index (CPI). This is due to its inflationary role in the general Consumer Price Inflation (CPI), and its potential to exacerbate the ongoing economic and social impact of COVID-19, especially with regard to food security in poor . South Africa inflation rate for 2019 was 4.12%, a 0.38% decline from 2018. This is the lowest annual average rate since 2004 . This page provides the latest reported value for - South Africa Food Inflation - plus previous . Its mandate involves both price and financial stability. South Africa, July 14, 2020 . South Africa's inflation has been quite stable for the past years, levelling off between 3.2 and 6.3 percent, and is in fact expected to stabilize at around 4.5 percent in the future. Year-over-year July CPI in South Africa came in with a 4.9% increase. Consumer prices were flat in November over the previous month, following October's 0.26% increase. Calculate what historical, inflation adjusted money is worth today. University boarding fees increased by 6,5% in 2021, slightly higher than 2020's 5,9%. november 2021 - november 2020. Statistics South Africa has published its Consumer Price Index (CPI) for December 2020, capping off a year which saw an average annual inflation rate of just 3.3%. Zimbabwe's central bank left its benchmark interest rate at 35% on Monday, citing moderating inflation, as it looks to print more local currency and limit the use of foreign currencies Zimbabwe is struggling through its worst economic crisis in a decade, with prices of basic goods soaring and shortages of medicine, fuel and electricity worsening. But the large crop harvests in South Africa . 2001. A 5% rate of growth has been observed for the past eight months. Forecast Inflation Rate - was last updated on Wednesday, February 16, 2022. One of the reasons for low inflation in 2004, according to the South African Reserve Bank at the time, was a firmer rand, which strengthened from R7,56/$ in 2003 to R6,45/$ in 2004 (annual . After reaching a peak in 2016 consumer price inflation in South Africa begun to decline. 12.07 %. Figure 1: SA Consumer Inflation: history and forecasts Source: Stats SA, SARB, Investec 2020 was an unprecedent year, with the detrimental economic effects of COVID-19 induced lockdowns driving the -7.0% y/y collapse in GDP and drop in inflation, to an average of 3.3% y/y, with levels falling The result was largely driven by moderating price pressures for housing and utilities as well as for transportation. The South African Reserve Bank has responded to lower-than-expected inflation with caution. Graph CPI South Africa long-term. Cost of food in South Africa increased 6.10 percent in October of 2021 over the same month in the previous year. Inflation figures 2020 This page shows the inflation figures for 2020 for a large number of countries so that you can easily compare them with one another. The South African Chamber of Commerce and Industry (SACCI) said on Wednesday that Business Confidence Index (BCI) increased from 92 in December to 94.1 in January as the country opened business activity following the COVID-19 infection. 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 116 points regarding medical products. Consumer prices rose 0.57% over the previous month in December, picking up from the 0.49% increase seen in November. Statistics South Africa has published its Consumer Price Index (CPI) for December 2020, capping off a year which saw an average annual inflation rate of just 3.3%. 1.89. SA News 26 August 2020. The projection was done . The annual inflation rate in South Africa accelerated further to 5.9% in December of 2021, from 5.5% in November, above market expectations of 5.7% and moving closer to the top of the South African Reserve bank's target range of 3-6%. South Africa inflation rate for 2020 was 3.22%, a 0.9% decline from 2019. South Asia inflation rate for 2018 was 3.33%, a 1.19% decline from 2017. The inflation rate is based upon the consumer price index (CPI). Calculate what historical, inflation adjusted money is worth today. Despite these significant inflation numbers, the South African Reserve Bank (SARB) & other central banks around the world, still claim that any major increases in consumer prices . The average annual inflation rate for 2020 was 3,3%. The Laspeyres formula is generally used. South Africa Inflation Drop Unlikely to Prompt Aggressive Rate Cuts. 1.03. December 9, 2020. South African inflation slowed for the first time in three months in August, remaining close to the bottom of the central bank's target range. September 30, 2020. Our inflation forecast of 4.7% for 2020 is therefore now closely aligned with the view of .
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