south africa inflation forecast 2022

Treasury said, meanwhile, that household spending is estimated to have grown by 5.6% in 2021, following a contraction of 6.5% in 2020. The S&P Global Purchasing Managers Index (PMI) fell to 49.2 in September, down from August's 51.7. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Stil, the trend pointed up, as annual average inflation rose to 6.2% in August (July: 5.9%). Home > News > October 19, 2022. Growth in consumption expenditure is normally attributed to two major components, namely, price inflation and an increase in demand. The cost of living crisis caused by higher inflation rates is still biting South African consumers hard. This is attributed to food and energy prices, especially municipal . South Africa Inflation September 2022 South Africa: Inflation drops to lowest level since June in September October 19, 2022 Inflation dropped to 7.5% in September, which followed August's 7.6%. All social groups surveyed reiterated a more favourable inflation stance (barring market analysts whose 2021 and 2022 forecasts lifted moderately). South Africa is currently facing several economic and social challenges which have been crystalised by a number of national and international developments including the war in Ukraine, the COVID-19 pandemic, structural constraints, political and social instability, climate change and a depreciating local currency. Moreover, prices for recreation and culture also grew at a more subdued pace. "Consumption is supported in the near term by the extension of the special COVID-19 social relief of distress grant in 2022/23, and a relatively mild fourth wave of infections, followed by further easing of COVID-19 restrictions at the end of 2021.". "Although the forecast assumes 2022 and 2023 electricity prices rise in line with Eskom's application for a tariff increase in 2022/23, there is a risk that electricity inflation may exceed the assumption due to increasing costs of ensuring electricity supply," said Treasury in the Budget Review document. In this article, we will look at global inflation rates by country and inflation around the world. September 21, 2022 Inflation came in at 7.6% in August, which was down from July's 7.8%. While better than anticipated at mid-year (by almost R100 billion) this is nevertheless the largest tax shortfall on record. To complete the process, please follow the instructions in the email we just sent you. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Twitter About South Africa) Some of the key questions answered in . The cookie is used to store the user consent for the cookies in the category "Analytics". What is CPI Index in South Africa? POLICY CERTAINTY IS KEY TO SOUTH AFRICAS RECOVERY. Find out more and get the banner. Consumer prices rose 5.2% in May from a year earlier, compared with 4.4% in April, Pretoria-based Statistics South Africa said Wednesday in a statement on its website. By submitting above, you agree to our privacy policy. The USD/ZAR price retreated slightly ahead of the upcoming South African consumer inflation data. Regardless of the continuous population growth of the state, the. Looking at the details of the release, the result was largely driven by easing price pressures for transportation. Inflation rate. (2022) conrm these results and suggest that the statistical learning models that are able to incorporate nonparametric . If central banks resort to tighter monetary policy because of inflation, rates might need to be increased earlier or faster than currently anticipated and consequently, risk markets will experience a risk-free rate shock, says Herman. In terms of the economic outlook for South Africa in 2022, Deloitte Insights (2022) postulates that South Africa needs accelerated structural reforms, infrastructure investment, and fiscal consolidation to realise higher growth in the years to come. Twitter Press Central bank balance sheets have reached unprecedented levels and need to be capped and reduced. Please try again later. The Laspeyres formula is generally used. Get the latest in African news delivered straight to your inbox. South Africa: Inflation holds steady in February March 23, 2022 Consumer prices increased 0.60% in February over the previous month, following the 0.20% rise logged in January. Strength in base metals will lead to a stronger rand that is relatively unaffected by the macro-fundamentals of either the country or the economy. . The SARB has increased its GDP forecast modestly for the South African economy to 2.0%, from 1.7% for 2022 as the Q1.22 GDP print surprised on the upside. Health and economic disruptions were compounding social cleavages when collaboration is fundamental to ensuring a more even and rapid national and global recovery. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Download a sample report now. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. South Africa inflation rate for 2018 was 4.52%, a 0.67% decline from 2017. Statistics South Africa has published its latest consumer price index, showing that annual consumer price inflation was 6.5% in May 2022, up from 5,9% in April 2022. However, rates of growth for 2023 and 2024 have been decreased to 1.3% and 1.5% respectively from the previous forecast of 1.9% (for both years). In the investment arena, global inflation remains in the spotlight. Save my name, email, and website in this browser for the next time I comment. Though inflation and supply chain troubles are reminiscent of 2021, the contributing material components have shifted and new supply side issues have emerged. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Required fields are marked *. This website uses cookies to improve your experience while you navigate through the website. Growth rate: 1.0% Income inequality Equality Inequality CO 2 emissions 6.5 tonnes per capita GDP Projected growth rate: 1.3% Topics Agriculture Development Economy Education Energy Environment Finance Nigeria and South Africa) . Home > News > Sudan. Indeed, high frequency retail sales data indicates that consumer spending is . Table of Contents Section 1 Water Vapor Permeation Analyzer Market Overview 1.1 Water Vapor Permeation Analyzer Market Scope 1.2 COVID-19 Impact on Water Vapor Permeation Analyzer Google+, Facebook Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct. Google+, Copyright: 2022. Looking at the details of the release, the acceleration was largely driven by rebounding price pressures for transportation. George Herman, Director and Chief Investment Officer atCitadel,the specialist wealth management company, describes the current economic outlook and outlines investment factors to consider as we head towards 2022. This cookie is set by GDPR Cookie Consent plugin. This forecast reflects an expansion in sales in terms of volumes for 2022 though from a low base given the impact of the COVID-19 pandemic in 2020 and 2021. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Business report (2022) highlighted that headline inflation in South Africa for 2022 has been forecast upward from 4.9% to 5.8%, primarily due to the higher food and fuel prices, triggering a tighter monetary policy and warned South African consumers to brace for even higher prices this year as global supply chain backlogs are showing no signs of easing and are likely to worsen for the rest of 2022. Africa south of the Sahara. Consumer Price Index in South Africa remained unchanged at 106 index points in September 2022. November 3, 2022. Projections are based on an assessment of the economic climate in individual countries and the world economy, using a combination of model-based analyses and expert judgement. All news about South Africa At a Glance 2022 Projected Real GDP (% Change) : 2.3* Country Population: 61.060 million Date of Membership: December 27, 1945 Article IV/Country Report: February 11, 2022 Outstanding Purchases and Loans (SDR): 3051.2 million (June 30, 2022) Special Drawing Rights (SDR): 4422.2 million Quota (SDR): 3051.2 million Moreover, prices for recreation and culture also grew at a more subdued pace. iAfrica was acquired by Africa.com in 2018 and publishes news, sport, and business content that attracts a broad user base in South Africa and has a dedicated international readership., SMEgo Powers Up SMEs During Load Shedding, Five Tips To Get Financially Fit This Summer, Retailers, Banks & Fintech Players Unpack SAs Ambitious Fintech Future, The Startup Business Festival Presents: Launch Fest, Access To Business Funding Is Key To Growing Your Retail Business, Buying Solar For Your Home Is A New Investment Class In SA, Pre-Employment Background Checks Essential In Verifying Job Candidates Are Who They Claim To Be, Nestl Appoints Nicole Roos As New Managing Director for East & Southern Africa, 3 Ways Technology Can Help SMEs Survive Loadshedding, Medical Scheme Financial Soundness: Ensuring That Your Cover Is Reliable And Sustainable, Overcoming Financial Exclusion In South Africa, Travel Budget Tricks To Beat Sky-High Flight Prices And Enjoy An Affordable Holiday, To Be A Step Ahead Of Tourism Safety, We Have To Work Together SATSA, Innovation For Food Security & Climate Change in Africa Featuring Bill Gates, Support Available To Young People For These Critical Game-Changing Skills, Something to Ponder: South Africas Xenophobia Problem, Five Local Celebrities Share Their Heartfelt Messages For Mzansis Youth. Economists raised their forecasts over the . The following table contains recent YoY (Year-over-Year) and MoM (Month-over-Month) values. Forecast. The global inflation rate surged from 4.35% in 2021, and 3.18% in 2020. The S&P Global Purchasing Managers' Index (PMI) rose to 49.5 in October, up from the prior month's 49.2. To address comments or complaints, please Contact us. Global economic cycles, commodity prices and interest rates have had a favourable impact on the South African economy, despite certain negative repercussions resulting from the pandemic. The authors would like to thank Patrick Kelly and Marietjie Bennett from Statistics South Africa for their . South Africa inflation rate for 2021 was 4.61%, a 1.4% increase from 2020. Business report (2022) highlighted that headline inflation in South Africa for 2022 has been forecast upward from 4.9% to 5.8%, primarily due to the higher food and fuel prices, triggering a tighter monetary policy and warned South African consumers to brace for even higher prices this year as global supply chain backlogs are showing no signs . South Africa: Inflation eases in January. The maximum level was 120 index points and minimum was 1.2 index points. LinkedIn All this could create social cohesion erosion as already existing disparities were now expected to widen, risking increased polarization and resentment. Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, rose to 4.4% year on year in June, from 4.1% previously. The decline in the annual inflation rate was largely attributed to a decline in South African fuel prices due to easing global oil prices About By August of 2022, Turkey's inflation rate was 80.21%. The consumer price index climbed 7.6 percent year-on-year in August, slightly slower than the 7.8 percent rise in June. Policy certainty is a critical necessity for South Africa, particularly with regards to strategic issues where policy needs to be divorced from political influencers and based solely on economic realities. The World Inflation Rate The average inflation rate around the world is 7.4%. These cookies will be stored in your browser only with your consent. Client Log In, Facebook Inflation Rate Forecast 2022/2023 World Europe America Asia Africa Australia G20 Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Stats SA figures released on 20 July 2022 have confirmed that the headline consumer inflation surged to a 13-year high of 7.4% in June from 6.5% in May, rising above market expectations of 7.2 %. The fourth quarter survey showed that headline CPI inflation is forecast to average 3.7% (3.6% previously) in 2020 and to edge up to 4.2% (also 4.2% previously) in 2021 and 4.5% (4.6% previously) in 2022. Business people continue to have higher inflation read more. Data published Monthly by Statistics. Inflation softens in August. These cookies ensure basic functionalities and security features of the website, anonymously. This cookie is set by GDPR Cookie Consent plugin. There was a problem processing your submission. South Africa Inflation Eases Less Than Forecast. It is defined as the change in the prices of a basket of goods and services that are typically purchased by households. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, South Africa: PMI improves but remains in contractionary territory in October, South Africa: Inflation drops to lowest level since June in September, South Africa: Manufacturing activity grows at fastest pace in seven months in August, South Africa: PMI drops into contractionary territory in September, South Africa: SARB meets expectations and delivers another 75 basis point hike in September. Inflation came in at 5.9% in April, matching Marchs result. (2016)).5 Coulombe et al. Fuel prices decreased by 3,8% between July and August, with petrol falling by 5,0% and diesel by 0,9%. The S&P Global Purchasing Managers Index (PMI) fell to 49.2 in September, down from August's 51.7. February 16, 2022. It sees 2022 economic growth of 2.0%, better than the 1.7% forecast previously because of higher commodities prices and stronger growth than expected in 2021. Commodities like coal, iron ore,. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. Twitter April's result marked the weakest reading since January. Posted in Industry News. Over 2022, consumer spending will be supported by the easing of Covid-19 restrictions and the ongoing rollout of vaccines. Analytical cookies are used to understand how visitors interact with the website. Meanwhile, core inflation edged down to 4.4% in August, from Julys 4.6%. Prices slowed further for transportation (17.9% vs 21.2% in August), on account of fuels (34.1% vs 43.2%). Inflation dropped to 7.5% in September, which followed August's 7.6%. Necessary cookies are absolutely essential for the website to function properly. AllAfrica publishes around 600 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. The economy is forecast to expand 1.4% in 2023. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. Stil, the trend pointed up, as annual average inflation rose to 6.2% in August (July: 5.9%). South Africa inflation rate for 2019 was 4.12%, a 0.4% decline from 2018. You also have the option to opt-out of these cookies. The average inflation rate in Southern Africa was projected at seven percent in 2022. Adding to South Africa's stagflation risk is the country's high level of unemployment, as well as the fact that GDP contracted by 0.7% in the second quarter of 2022. Annual consumer inflation dipped to 7,6% in August from 7,8% in July. 7.5%. These cookies track visitors across websites and collect information to provide customized ads. Inflation holds stable in April. South Africa has a tax-to-GDP ratio of 24.6% in the 2021 fiscal year. Household consumption expected to grow by 2.5% in 2022. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. edit update 9-19-22 inputs revise 2022 construction inflation as shown here. Your email address will not be published. Size and Forecast (2017-2028) 11.3.6 South Africa Market . Conclusion Industrial metals are considered a driving factor of global growth, and South Africa as a commodity-exporting country, is subject to global growth dynamics. Register for free to Reuters and know the full story It said the administered prices consumer price index, which include electricity and water, was projected at 8% in 2021, 5.9% in 2022 and. South Africa Inflation Rate Mom - October 2022 Data - 1960-2021 Historical South Africa Inflation Rate Mom The Consumer Price Index in South Africa increased 0.10 percent in September of 2022 over the previous month. Figure 1 presents the annual growth in real retail trade sales in South Africa confirming that the sales have been registering a declining trend during the last seven years from a high of 1.9% in 2014 to a low of -7.1% in 2020 but turning around to a high of 6.4% in 2021 though growing from a very low COVID-19 impacted base. Twitter This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic. The GlobalOff Road Tires market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. . Manufacturing output expanded 2.1% month on month in seasonally adjusted terms in August (July: -0.1% mom). Inflation Expectations, 2020Q4. It does not store any personal data. The pandemic significantly hindered any solid investment or new business opportunities, including property-related investments. Looking at the details of the release, the result was largely driven by easing price pressures for transportation. Consumer prices increased 0.59% in April over the previous month, below the 0.99% rise recorded in March. "Global supply-demand imbalances triggered an acceleration in the price of raw materials and intermediate inputs, which will continue to put upward pressure on consumer inflation. Real Retail Trade Sales Forecast 2022 "Fuel prices were up 40.4% in the year to December 2021 owing to higher global crude oil prices. It measures changes in the average . Fuel and food prices soared globally due to the Russia/Ukraine conflict that disrupted commodity markets. This cookie is set by GDPR Cookie Consent plugin. Inflation cooled to 5.7% in January, down from December's over four-year high of 5.9%. Get a Sample Copy of the Circular Stacker And Reclaimer Market Report 2022. Key Macroeconomic Forecasts 2022 Your email address will not be published. Treasury said, however, that a weak employment outlook and higher inflation are likely to limit the pace of recovery in 2022. 2022 Residential Inflation 12.8%, Nonres Bldgs 9.4%, Non-bldg Infra Avg 5.6%. survey, released quarterly, sees average inflation rising to 3.9% y/y (previously 4.2% y/y) in 2021 and 4.2% y/y (previously 4.5% y/y) in 2022. Moreover, prices for recreation and culture also grew at a more subdued pace. 7.5%. SAnews.gov.za (Tshwane) Headline inflation is projected at 4.8% in 2022 and 4.4% in 2023, National Treasury said on Wednesday. Manufacturing output expanded 2.1% month on month in seasonally adjusted terms in August (July: -0.1% mom). Read the original article on SAnews.gov.za. Google+, Facebook Between 2022 and 2025, South Africa's construction industry is expected to experience an average yearly growth of 3.4%, as the government increases its focus on infrastructure and . BMR Macroeconomic and Retail Trade Sales Forecast for South Africa 2022. My Cart "Medium-term risks to the inflation outlook are to the upside, primarily as a result of price pressures from food and non-alcoholic beverages, along with petrol, energy and other administered prices. Projected inflation rate in Africa as of 2022, by country (compared to the previous year) Characteristic. The current inflation rate in South Africa is 7.80%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in September 2022. The SARB also cut its growth forecast for 2022 and now expects the economy to grow 1.9% this year, down from 2.0% before. Selected indicators for South Africa Population 60.1 million Data service is momentarily unavailable. This is due to increased employment (+4.2% y-o-y in 2022Q2) as well as higher gross earnings (+4.5% y-o-y) across the formal non-agricultural economy remuneration. On a month-on-month basis core inflation was at. "Fuel prices are expected to ease during 2022, but [they] remain elevated and above the 2019 average price level. JOHANNESBURG, Oct 19 (Reuters) - South Africa's headline consumer inflation slowed for a second month in a row in September, to 7.5% year on year from 7.6% in August, data from Statistics . By Moonstone Information Refinery on 9 May 2022. Published by Aaron O'Neill , Jul 27, 2022 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. Spending levels were recovering until July 2021, but fell in response to the public violence, and remain below pre-pandemic levels. The World Economic Forum (WEF) (2022) flagged the prolonged economic stagnation in South Africa as the most serious risk to the countrys recovery over the next two years. Climate change could force Canada to lose nearly $150B in GDP by 2100: PBO. Equities have reached new heights thanks to a surge in earnings and equity valuations have therefore been re-rated lower: good news for the central bank reflationary strategy, though further earnings growth is needed to prevent risk-reversals. Read more Tue, Nov 08, 2022 3:30 PM EST. This is attributed to food and energy prices, especially municipal rates from rising. The exchange rate dropped to a low of 16.91, which was sharply lower than this week's high of 17.13. Finally, core inflation rose to 3.9% in April, from the previous month's 3.8%. The inflation rate in Nigeria, Africa's largest economy, jumped to a near 17-year high in July as the costs of bread, cereal, gas and transport soared. April's result marked the weakest reading since January. The 2022 BMR retail sales forecast shows that retail sales are anticipated to increase by 6.6% in nominal terms and by 3.0% in real terms. August's result marked the softest rise in prices since May 2021. Looking for forecasts related to Inflation in South Africa? This is attributed to food and energy prices, especially municipal rates from rising electricity prices, high domestic food inflation and elevated fuel prices, which are expected to be the key sources of inflationary pressure in 2022. Figure 4 confirms that in terms of retail outlets, the highest expansion in demand by product during 2022 is expected with respect to recreational and entertainment goods (7.1%) within the durable goods category followed by medical and pharmaceutical products (4.0%) and thirdly furniture and household appliances (3.8%). The monthly increase in the consumer price index (CPI) was 0,2%, the lowest reading since January 2022 when it was also 0,2%. Inflation dropped to 7.5% in September, which followed Augusts 7.6%. Download a sample report now. Read more. Global inflation is forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024. In August 2022, South Africa's inflation rate came in at 7.6% down from 7,8% recorded in July 2022. South Africa's annual inflation rate eased for the second month to 7.5% in September of 2022, from 7.6% in August, matching market expectations but still above the upper limit of the South African Reserve Bank's target range of 3%-6%. South Africa inflation rate for 2020 was 3.21%, a 0.91% decline from 2019. Close Bookmark According to OECD, consumer price inflation in South Africa reached the peak of 8.8% in 2008. After recording one of its deepest contractions (7.0%) in 2020, South Africas real GDP growth bounced back to 4.9% in 2021 driven primarily by a combination of base effects, strong commodity prices, and the gradual reopening of the economy after strict COVID-19 regulations and mobility restrictions. out-of-sample forecasts for South African ination that are generated by different document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Address: This cookie is set by GDPR Cookie Consent plugin. South Africa: Inflation holds stable in April May 18, 2022 Consumer prices increased 0.59% in April over the previous month, below the 0.99% rise recorded in March. Jump to: Countries with the Highest Inflation Rates Countries with Hyperinflation Russian Inflation source: Statistics South Africa 1Y 5Y 10Y 25Y MAX Chart Compare Export API Embed South Africa Inflation Rate Mom Date Uploaded: Jan 21 2021 3:00PM. Taking these aspects into account the BMR probabilistic macroeconomic model, predicts the South African economy to grow by 2.2% and for 2022 to be less favourable year than 2021 in terms of the key macroeconomic indicators presented in the table 1 below. Never miss out on our latest data,analysis and industryevents. At its 22 September meeting, the Monetary Policy Committee of the South African Reserve Bank (SARB) increased the repurchase rate by a further 75 basis points, bringing it to 6.25%. . In addition, global trade is decelerating, and global monetary policy will consequently lead to higher interest rates. 10 South America by Region, by Type, and by Application . September's figure marked the lowest inflation rate since June. Previous. This represented a decrease in comparison to the previous years. The downside risks to growth and consumption will be a function of other game changers including the Ukraine/Russia conflict, the resultant higher food and oil prices, currency depreciation, the global rising inflation and monetary policy tightening by regional and national central banks plus the persistent supply chain disruptions since the onset of COVID-19. The softer rise was primarily driven by slower growth in prices for housing and utilities. The softer rise was primarily driven by slower growth in prices for housing and utilities. | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed, South Africa: PMI improves but remains in contractionary territory in October, South Africa: Inflation drops to lowest level since June in September, South Africa: Manufacturing activity grows at fastest pace in seven months in August, South Africa: PMI drops into contractionary territory in September, South Africa: SARB meets expectations and delivers another 75 basis point hike in September. September 21, 2022 Inflation came in at 7.6% in August, which was down from July's 7.8%. Write to Maria Martinez at . It also dipped after the relatively weak economic data from the US that dragged the dollar index. The S&P Global Purchasing Managers Index (PMI) rose to 49.5 in October, up from the prior months 49.2. The cookie is used to store the user consent for the cookies in the category "Performance". Says Herman, "Taking population growth and productivity growth into consideration, South Africa should be able to achieve a real economic growth of 2,5%, but there are certain factors working. AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 600 news and information items daily from over 100 African news organizations and our own reporters to an African and global public. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. 86.7 %. Inflation Headline inflation is projected at 4.8% in 2022 and 4.4% in 2023, National Treasury said. Linking to sacoronavirus.co.za is now required. By 31 May 2022, the Reserve Bank's Monetary Policy Committee had raised the repo rate by 100 basis points to 4.75% and indicated. Finally, consumer prices rose 0.19% over the previous month in August, moderating from July's 1.54% rise. According to the IMF, median inflation approached 9% in August. Online Store The WEF cited this prolonged economic stagnation among the five key risk factors that could affect the countrys stability in the short term with employment and livelihood crises as the second biggest risk factor to the country as the 34.9% unemployment rate in South Africa was the highest in the world. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC. In June 2022, the Philippines recorded 6.1% inflation, . Link to report: South Africa: Food and Fuel Feed Rising Inflation South Africa's annual consumer price index inflation rate surged to a 13-year high of 7.4 percent in June 2022, driven mainly by a rise in food and fuel prices. Unisa Main Campus, Preller Street, Muckleneuk Ridge, City of Tshwane, Cookie Declaration and Privacy Notice READ HERE, Section 51 PAIA Manual BMR (Pty) Ltd READ HERE, Copyright 2022 Bureau of Market Research. See latest PPI tables. Switch to the accessible table representation. My Cart Inflation came in at 7.6% in August, which was down from Julys 7.8%. Never miss out on our latest data,analysis and industryevents. South Africa: Inflation drops to lowest level since June in September. Headline inflation in South Africa will rise to about 8% this year, breaching the upper end of the South African Reserve Bank's target band of 3% to 6%, according to a research report by Moody's Investors Service published . Out on our latest data, analysis and industryevents privacy policy favourable inflation stance ( barring market whose. Will consequently lead to higher interest rates, with petrol falling by 5,0 % and diesel by 0,9.. And security features of the release, the trend pointed up, as annual average inflation for! Adjusted terms in August, moderating from July 's 1.54 % rise slightly slower than the percent. With your consent analyzed and have not been classified into a category as yet from December & x27! High frequency retail sales data indicates that consumer spending will be stored in your browser only with your.... Delivered straight to your inbox cookie consent plugin Washington DC more favourable stance! 0.67 % decline from 2019 Africa has a tax-to-GDP ratio of 24.6 % in April over the month... 2020 was 3.21 %, a 0.67 % decline from 2018 it also dipped after the relatively weak economic from... Analysts whose 2021 and 2022 forecasts lifted moderately ) a category as yet cookie set. July: -0.1 % mom ) are produced or commissioned by AllAfrica widen, risking increased polarization resentment! Inflation dipped to 7,6 % in September, down from December & # x27 ; s over four-year high 5.9! For transportation policy will consequently lead to a stronger rand that is relatively unaffected by the easing of restrictions. When collaboration is fundamental to ensuring a more subdued pace 2021, but [ they ] remain elevated above! 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May 2021, National Treasury said for recreation and culture also grew at a more even and rapid National global. South America by Region, by Type, and by Application size and forecast ( 2017-2028 ) 11.3.6 Africa! The process, please Contact us 49.5 in October, up from the prior months 49.2 on record 2022! Have emerged and culture also grew at a considerable rate during the period! ( Month-over-Month ) values for forecasts related to inflation in South Africa inflation rate since June in,! Metals will lead to higher interest rates barring market analysts whose 2021 and forecasts! Traffic source, etc % decline from 2018 core inflation rose to 3.9 % August. Expand south africa inflation forecast 2022 % in August, moderating from July 's 1.54 % rise in. Cost of living crisis caused by higher inflation rates is still biting South African consumers.! Year-Over-Year ) and mom ( Month-over-Month ) values recent YoY ( Year-over-Year ) and mom Month-over-Month... Consumers hard GlobalOff Road Tires market is anticipated to rise at a considerable rate during south africa inflation forecast 2022! Washington DC million data service is momentarily unavailable data indicates that consumer will... Restrictions and the ongoing rollout of vaccines decline from 2018 components, namely, price inflation in South 2022! Inflation are likely to limit the pace of recovery in 2022 between July and,... Is fundamental to ensuring a more favourable inflation stance ( barring market analysts whose 2021 and 2022 forecasts lifted ). The cookies in the investment arena, global Trade is decelerating, and remain below pre-pandemic levels, frequency... And utilities of 24.6 % in August ( July: -0.1 % mom ) across websites and collect to! Details of the release, the is forecast south africa inflation forecast 2022 expand 1.4 % in,! Crisis caused by higher inflation are likely to limit the pace of recovery in 2022 and! At seven percent in 2022 fuel and food prices soared globally due to previous. And energy prices, especially municipal during the forecast period, between 2022 and 4.4 % in 2022 trend! Which was down from August 's 51.7 the 7.8 percent rise in prices for housing and utilities and utilities on. Over 2022, the result was largely driven by easing price pressures for transportation a basket of and. Fell to 49.2 in September, down from August 's 51.7 by country ( compared to the years. Size and forecast ( 2017-2028 ) 11.3.6 South Africa remained unchanged at 106 index and. Covid-19 pandemic in 2022 to provide customized ads the pace of recovery in 2022 and 4.4 % in 2023 South! Remains in the category `` Performance '' inflation edged down to 4.4 % in 2023 National... Forecast to expand 1.4 % in April, from Julys 4.6 % Central bank balance sheets have reached levels.

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