South Africa’s annual inflation rate inched up to 3.6% in December 2025 from 3.5% in the prior month, in line with analysts' expectations. The headline inflation rate remains within the 1 percentage point tolerance band of the SARB's new 3% target. The main contributors to the increase were housing & utilities (4.9%), food & non-alcoholic beverages (4.4%) and insurance and financial services (7%). The core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, rose to 3.3% in December, the highest in ten months, from 3.2% in November. On a monthly basis, the CPI rose by 0.2%, after decreasing by 0.1% in the previous month. The average inflation rate for 2025 was 3.2%, marking the lowest level in 21 years and below the central bank’s 3.3% forecast. source: Statistics South Africa

Inflation Rate in South Africa increased to 3.60 percent in December from 3.50 percent in November of 2025. Inflation Rate in South Africa averaged 8.50 percent from 1968 until 2025, reaching an all time high of 20.70 percent in January of 1986 and a record low of 0.20 percent in January of 2004. This page provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2026.

Inflation Rate in South Africa increased to 3.60 percent in December from 3.50 percent in November of 2025. Inflation Rate in South Africa is expected to be 3.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Inflation Rate is projected to trend around 3.20 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-17 08:00 AM
Inflation Rate YoY
Nov 3.5% 3.6% 3.6% 3.7%
2026-01-21 08:00 AM
Inflation Rate YoY
Dec 3.6% 3.5% 3.6% 3.5%
2026-02-18 08:00 AM
Inflation Rate YoY
Jan 3.6%

Components Last Previous Unit Reference
Core Consumer Prices 103.30 103.20 points Dec 2025
Core Inflation Rate YoY 3.30 3.20 percent Dec 2025
Core Inflation Rate MoM 0.10 0.10 percent Dec 2025
CPI Clothing and Footwear 101.20 101.10 points Dec 2025
CPI Education Services 104.50 104.50 points Dec 2025
CPI Food and Non-Alcoholic Beverages 104.40 104.20 points Dec 2025
CPI Housing Utilities 104.90 104.30 points Dec 2025
CPI Recreation, Sport and Culture 102.50 102.60 points Dec 2025
CPI Restaurants and Hotels 102.90 103.50 points Dec 2025
CPI Transportation 101.00 100.30 points Dec 2025
Food Inflation 4.40 4.40 percent Dec 2025

Related Last Previous Unit Reference
Consumer Price Index CPI 103.60 103.40 points Dec 2025
Inflation Rate YoY 3.60 3.50 percent Dec 2025
Inflation Rate MoM 0.20 -0.10 percent Dec 2025
PPI MoM 0.20 0.00 percent Dec 2025
Producer Prices 103.60 103.40 points Dec 2025
PPI YoY 2.90 2.90 percent Dec 2025


South Africa Inflation Rate
In South Africa, the most important categories in the Consumer Price Index are: Housing & Utilities (23% of the total weight), Food & Non-alcoholic Beverages (19%), and Transport (15%). Others include: Miscellaneous Goods & Services (15%), Alcoholic Beverages & Tobacco (6%), Recreation & Entertainment (5%), Household Contents, Equipment & Maintenance (4%), Clothing & Footwear (4%), Restaurants & Hotels (3%), Education (2%), and Communications (2%).
Actual Previous Highest Lowest Dates Unit Frequency
3.60 3.50 20.70 0.20 1968 - 2025 percent Monthly

News Stream
South Africa Inflation Rate Rises to 3.6%
South Africa’s annual inflation rate inched up to 3.6% in December 2025 from 3.5% in the prior month, in line with analysts' expectations. The headline inflation rate remains within the 1 percentage point tolerance band of the SARB's new 3% target. The main contributors to the increase were housing & utilities (4.9%), food & non-alcoholic beverages (4.4%) and insurance and financial services (7%). The core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, rose to 3.3% in December, the highest in ten months, from 3.2% in November. On a monthly basis, the CPI rose by 0.2%, after decreasing by 0.1% in the previous month. The average inflation rate for 2025 was 3.2%, marking the lowest level in 21 years and below the central bank’s 3.3% forecast.
2026-01-21
South Africa Inflation Rate Surprisingly Cools to 3.5%
South Africa’s annual inflation rate edged down to 3.5% in November 2025 from 3.6% in October, slightly below market forecasts of 3.6%. Price growth cooled in five of the 13 product categories, most notably transport (0.7% vs 1.5% in October), of which fuels (0.1% vs 3.3%); and recreation, sport & culture (2.9% vs 3.4%). On the other hand, food & non-alcoholic beverages (4.4% vs 3.9%), particularly meat prices (12.2% vs 11.4%), amid ongoing outbreaks of foot-and-mouth disease; restaurants & accommodation services (2.3% vs 2.1%), and alcoholic beverages & tobacco (4.6% vs 4.5%) recorded higher rates. The core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, inched up to 3.2% in November from 3.1% in October. On a monthly basis, the CPI fell by 0.1%, following a 0.1% increase in the prior month.
2025-12-17
South Africa Inflation Rises Less than Anticipated
South Africa’s annual inflation rate rose for the second month to 3.6% in October 2025 from 3.4% in September, though below analysts' estimates of 3.7%. It was the highest reading since September 2024, mainly on account of prices of housing & utilities (4.5% vs 4.5% in September), notably electricity (8.2%) and water supply & other services (7%); alcoholic beverages & tobacco (4.5% vs 4.2%) and recreation & culture (3.4% vs 2.9%). Moreover, transportation prices rose 1.5%, marking the first increase in over a year, driven by a sharp rebound in fuels (3.3% vs -2.2%). Meanwhile, some categories recorded smaller price-growth, primarily restaurants & accommodation services (2.1% vs 3%) and food & non-alcoholic beverages (3.9% vs 4.5%). The core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, eased to 3.1% in October 2025 from a seven-month high of 3.2% in September. On a monthly basis, the CPI edged up by 0.1%, following a 0.2% increase in the prior month.
2025-11-19