Core inflation · South Africa
South Africa Core Inflation Rate YoY
The South Africa Core Inflation Rate YoY measures the rise in consumer prices in South Africa without the most volatile items, usually food and energy (definitions vary by country).
- Importance
- Medium
- Publié
- Monthly
- Prochaine publication
- Devise
- ZAR · South African rand
- Banque centrale
- The South African Reserve Bank
Derniers chiffres
La dernière publication, pour SEP, est parue le 2026-10-21 et s’est établie à 4%. C’est moins que 4.1% la fois précédente.
Sur les 12 dernières publications, la valeur est allée de 3% à 4.2%, avec une moyenne de 3.5%. Elle a baissé trois publications d’affilée.
| Publié | Pour | Réel | Consensus | Précédent |
|---|---|---|---|---|
| 21 Oct 2026 | SEP | 4% | – | 4.1% |
| 23 Sep 2026 | AUG | 4.1% | 4.2% | 4.2% |
| 19 Aug 2026 | JUL | 4.2% | – | 4.1% |
| 17 Jun 2026 | MAY | 3.8% | – | 3.6% |
| 20 May 2026 | APR | 3.6% | – | 3.2% |
| 22 Apr 2026 | MAR | 3.2% | – | 3% |
| 18 Mar 2026 | FEB | 3% | – | 3.4% |
| 18 Feb 2026 | JAN | 3.4% | – | 3.3% |
| 21 Jan 2026 | DEC | 3.3% | – | 3.2% |
| 17 Dec 2025 | NOV | 3.2% | – | 3.1% |
| 19 Nov 2025 | OCT | 3.1% | – | 3.2% |
| 22 Oct 2025 | SEP | 3.2% | – | 3.1% |
Pourquoi c’est important
Food and energy prices jump with harvests and oil, then fall back. The core rate shows the underlying trend that the South African Reserve Bank can actually influence, so it often moves markets more than the headline. Services inflation, driven by wages, is the stickiest part.
Mode de calcul
Statistics South Africa takes the consumer price index basket, removes the excluded items and re-weights the rest; the change is measured month on month and against the same month a year earlier.
Core inflation (yoy) = core index ÷ core index 12 months ago − 1Ce que signifient les variations
- A core rate falling towards the target lets the South African Reserve Bank ease; a stubborn core keeps rates high.
- Monthly core changes of 0.2% compound to about 2.4% a year; 0.3% to about 3.7%.
- Markets compare the figure with the consensus to one decimal; a 0.1-point surprise moves currencies.
Supérieur aux attentes : A higher figure than expected makes the South African Reserve Bank more likely to keep rates high or raise them: it tends to support the South African rand and push bond yields up, and is often a weight on stocks.
Inférieur aux attentes : A lower figure than expected gives the South African Reserve Bank room to cut or hold rates lower: the South African rand tends to soften and bond yields to fall.
Un bref historique
Economists Robert Gordon and others popularised excluding food and energy in the 1970s, when oil shocks made the headline rate misleading; most central banks now publish or watch a core measure.
Questions
What is the South Africa Core Inflation Rate YoY?
The South Africa Core Inflation Rate YoY measures the rise in consumer prices in South Africa without the most volatile items, usually food and energy (definitions vary by country).
What was the latest South Africa Core Inflation Rate YoY?
4% for SEP, published on 21 October 2026.
When is the next South Africa Core Inflation Rate YoY?
On Wednesday 18 November 2026 at 08:00 UTC.
Contenu éducatif uniquement, pas un conseil en investissement. Les chiffres sont les résultats publiés tels qu’enregistrés par notre calendrier ; les réactions de marché décrites sont typiques, non garanties.