Africa > Southern Africa > South Africa > South Africa Inflation December 2015

South Africa: South Africa Inflation December 2015

2016/01/28

In December, consumer prices increased 0.26% over the previous month, which came in above November’s 0.09% increase. According to Statistics South Africa, December’s result mainly reflected higher prices for food.

Inflation increased from 4.8% in November to 5.2% in December, thus hitting the highest level in a year. Inflation is still within the Central Bank’s target range of 3.0%–6.0%. Annual average inflation was stable at November’s 4.6% in December.

Core consumer prices, which exclude prices for food, fuel and electricity, rose 0.3% over the previous month, which was above the 0.1% increase observed in November. Finally, annual core inflation inched up from 5.5% in November to 5.6% in December.
FocusEconomics Consensus Estimate panelists expect inflation to average 5.9% in 2016, which is unchanged from last month’s estimate. In 2017, the panel sees average inflation of 5.7%.

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