South Africa Inflation Rate (CPI YoY %) - Historical Data
Year-on-year percentage change in the headline Consumer Price Index (CPI) for South Africa from 1923 to 2026, compiled from the BIS Long Consumer Prices archive (WS_LONG_CPI). The latest inflation rate is 4.26% (Jul 2026) compared with the South African Reserve Bank official target of 3.0%-6.0% Target Range (4.5% Midpoint).
Embed this interactive chart on your website or article:
Current Statistics & Historical Records
Latest Reading (Jul 2026)
4.26%
Prev (Jun 2026): 4.98%-0.72 pp
Highest Recorded (Jan 1986)
20.94%
Peak consumer price inflation rate in South Africa (South African Reserve Bank mandate: 3.0%-6.0% Target Range (4.5% Midpoint)).
Lowest Recorded (Jan 1933)
-6.41%
Lowest recorded CPI inflation / deflation reading in South Africa.
Long-Run Mean (1923–2026)
5.62%
104 annual observations · Monthly
South African Reserve Bank · ZAR
South Africa Inflation Rate (CPI YoY %) (1923-2026)
% YoYDrag to pan, scroll to zoom, or toggle between full archive (1923–2026) and recent monthly observations.
Loading interactive monetary series chart...
Source: Bank for International Settlements (BIS) & National Statistical Office (WS_LONG_CPI:M:ZA:771)
Latest: 4.26% (Jul 2026)
South Africa Inflation Rate Averages by Decade
Decadal mean, peak, and trough across the 1923–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1920s | 1923–1929 | -0.44% | 1.36% (1924) | -2.93% (1923) |
| 1930s | 1930–1939 | -0.60% | 3.62% (1938) | -4.49% (1932) |
| 1940s | 1940–1949 | 4.39% | 8.40% (1942) | 1.47% (1946) |
| 1950s | 1950–1959 | 3.81% | 8.68% (1952) | 1.15% (1959) |
| 1960s | 1960–1969 | 2.48% | 4.02% (1965) | 1.21% (1960) |
| 1970s | 1970–1979 | 9.65% | 13.27% (1979) | 4.09% (1970) |
| 1980s | 1980–1989 | 14.61% | 18.66% (1986) | 11.50% (1984) |
| 1990s | 1990–1999 | 9.91% | 15.31% (1991) | 5.27% (1999) |
| 2000s | 2000–2009 | 6.09% | 10.96% (2008) | 1.39% (2004) |
| 2010s | 2010–2019 | 5.17% | 6.32% (2016) | 4.12% (2019) |
| 2020s | 2020–2026 | 4.60% | 6.85% (2022) | 3.22% (2025) |
Complete Annual Historical Ledger (1923–2026)
Unit: % YoY · Source: Bank for International Settlements (BIS) & National Statistical Office (WS_LONG_CPI:M:ZA:771)
| Year | Annual Value (% YoY) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|
| 2026 | 3.91% | 2.96% – 4.98% | - |
| 2025 | 3.22% | 2.73% – 3.60% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 4.44% | 2.78% – 5.60% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 5.92% | 4.72% – 7.07% | - |
| 2022 | 6.85% | 5.60% – 7.81% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 4.55% | 2.88% – 5.90% | - |
| 2020 | 3.30% | 1.93% – 4.72% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 4.12% | 3.55% – 4.62% | - |
| 2018 | 4.59% | 3.66% – 5.17% | - |
| 2017 | 5.30% | 4.53% – 6.56% | - |
| 2016 | 6.32% | 5.88% – 7.10% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 4.59% | 3.97% – 5.04% | - |
| 2014 | 6.12% | 5.46% – 6.82% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 5.75% | 5.29% – 6.45% | - |
| 2012 | 5.65% | 4.83% – 6.19% | - |
| 2011 | 4.97% | 3.51% – 6.07% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 4.25% | 2.92% – 6.18% | - |
| 2009 | 7.22% | 6.03% – 8.41% | - |
| 2008 | 10.96% | 9.35% – 12.01% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 7.08% | 5.75% – 8.98% | - |
| 2006 | 4.63% | 3.29% – 5.79% | - |
| 2005 | 3.40% | 2.61% – 4.35% | - |
| 2004 | 1.39% | 0.16% – 3.73% | - |
| 2003 | 5.98% | 0.33% – 11.56% | - |
| 2002 | 9.14% | 5.01% – 13.01% | - |
| 2001 | 5.73% | 4.02% – 7.76% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 5.33% | 2.33% – 7.03% | - |
| 1999 | 5.27% | 1.71% – 8.88% | Launch of the Euro and establishment of the European Central Bank (ECB) |
| 1998 | 6.86% | 5.02% – 9.33% | - |
| 1997 | 8.62% | 6.17% – 9.85% | Asian Financial Crisis triggers emergency EM currency defense hikes |
| 1996 | 7.34% | 5.54% – 9.31% | - |
| 1995 | 8.73% | 6.37% – 11.08% | - |
| 1994 | 8.94% | 6.91% – 10.11% | Global bond market selloff and pre-emptive Federal Reserve tightening cycle |
| 1993 | 9.72% | 8.92% – 11.15% | - |
| 1992 | 13.96% | 9.51% – 16.19% | European Exchange Rate Mechanism (ERM) crisis and Black Wednesday |
| 1991 | 15.31% | 14.18% – 16.59% | - |
| 1990 | 14.33% | 13.10% – 15.27% | German reunification tightening and Japanese asset bubble peak |
| 1989 | 14.71% | 13.40% – 15.63% | - |
| 1988 | 12.80% | 12.16% – 14.18% | - |
| 1987 | 16.19% | 14.72% – 17.50% | Louvre Accord and Black Monday central bank liquidity provision |
| 1986 | 18.66% | 16.83% – 20.94% | - |
| 1985 | 16.26% | 13.69% – 18.52% | Plaza Accord coordinated G5 currency intervention depreciates USD |
| 1984 | 11.50% | 9.68% – 13.17% | - |
| 1983 | 12.35% | 10.59% – 14.81% | - |
| 1982 | 14.67% | 13.08% – 16.66% | - |
| 1981 | 15.28% | 13.67% – 16.67% | Volcker disinflation peak pushes benchmark policy rates to postwar highs |
| 1980 | 13.65% | 11.23% – 15.85% | - |
| 1979 | 13.27% | 11.25% – 14.77% | Second oil shock; Paul Volcker appointed Federal Reserve Chair |
| 1978 | 11.12% | 9.34% – 12.99% | - |
| 1977 | 11.16% | 10.00% – 12.50% | - |
| 1976 | 11.03% | 9.37% – 12.90% | - |
| 1975 | 12.59% | 10.60% – 14.55% | - |
| 1974 | 11.56% | 8.86% – 14.13% | First OPEC oil shock triggers global stagflation and steep policy rate hikes |
| 1973 | 9.58% | 8.47% – 10.25% | - |
| 1972 | 6.48% | 5.36% – 7.33% | - |
| 1971 | 5.66% | 3.97% – 6.91% | Nixon Shock suspends USD gold convertibility; Bretton Woods system ends |
| 1970 | 4.09% | 3.47% – 4.70% | - |
| 1969 | 3.23% | 2.70% – 3.71% | - |
| 1968 | 2.01% | 1.53% – 2.72% | - |
| 1967 | 3.49% | 2.27% – 4.45% | - |
| 1966 | 3.56% | 2.73% – 4.00% | Credit crunch of 1966 and monetary tightening |
| 1965 | 4.02% | 3.36% – 4.47% | - |
| 1964 | 2.55% | 0.78% – 4.27% | - |
| 1963 | 1.27% | 0.39% – 1.79% | - |
| 1962 | 1.28% | 0.60% – 1.84% | - |
| 1961 | 2.18% | 1.86% – 2.66% | - |
| 1960 | 1.21% | 0.43% – 1.75% | - |
| 1959 | 1.15% | 0.33% – 2.32% | - |
| 1958 | 3.51% | 2.00% – 4.57% | Eisenhower recession and global monetary easing |
| 1957 | 2.97% | 1.53% – 4.87% | - |
| 1956 | 1.90% | 1.23% – 2.49% | - |
| 1955 | 3.14% | 1.91% – 3.99% | - |
| 1954 | 1.85% | -0.28% – 4.00% | Post-Korean War Federal Reserve policy rate normalization |
| 1953 | 3.54% | 0.70% – 5.69% | - |
| 1952 | 8.68% | 6.15% – 10.95% | - |
| 1951 | 7.37% | 6.31% – 8.66% | - |
| 1950 | 3.99% | 2.39% – 7.16% | - |
| 1949 | 3.71% | 1.00% – 6.62% | - |
| 1948 | 5.74% | 3.80% – 7.78% | - |
| 1947 | 4.16% | 1.92% – 5.67% | - |
| 1946 | 1.47% | 0.39% – 2.09% | - |
| 1945 | 2.63% | 0.91% – 4.02% | - |
| 1944 | 3.58% | 1.66% – 4.77% | - |
| 1943 | 6.08% | 4.53% – 6.90% | - |
| 1942 | 8.40% | 7.87% – 8.97% | - |
| 1941 | 4.60% | 3.37% – 5.95% | - |
| 1940 | 3.52% | 1.75% – 5.55% | - |
| 1939 | -0.09% | -0.81% – 0.83% | - |
| 1938 | 3.62% | -0.31% – 6.06% | - |
| 1937 | 2.39% | 0.47% – 5.61% | - |
| 1936 | 0.30% | -0.15% – 1.09% | - |
| 1935 | -0.56% | -1.40% – 0.00% | - |
| 1934 | 1.41% | -1.39% – 3.35% | - |
| 1933 | -2.60% | -6.41% – 2.38% | - |
| 1932 | -4.49% | -4.94% – -3.82% | - |
| 1931 | -3.70% | -4.64% – -2.63% | - |
| 1930 | -2.33% | -3.51% – -1.20% | - |
| 1929 | -0.32% | -1.19% – 0.34% | - |
| 1928 | 0.13% | -0.77% – 1.49% | - |
| 1927 | 0.55% | -0.49% – 2.06% | - |
| 1926 | -1.50% | -2.21% – -0.41% | - |
| 1925 | -0.39% | -1.94% – 0.75% | - |
| 1924 | 1.36% | 0.22% – 2.72% | - |
| 1923 | -2.93% | -5.35% – 0.71% | - |
Frequently Asked Questions - South Africa Inflation Rate
What is the current inflation rate in South Africa?
As of Jul 2026, headline consumer price inflation in South Africa is 4.26% year-on-year, compared to the South African Reserve Bank target of 3.0%-6.0% Target Range (4.5% Midpoint).
What was the highest inflation rate recorded in South Africa?
In the 1923-2026 series, South Africa CPI inflation peaked at 20.94% in Jan 1986 and reached a low of -6.41% in Jan 1933.
Statistical Provenance
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & National Statistical Office
- Dataset / Dataflow:
- BIS Long Series on Consumer Prices (WS_LONG_CPI)
- Canonical Series ID:
- WS_LONG_CPI:M:ZA:771
- Reuse & License:
- Terms of permitted use of BIS statistics
- Unit of measure: Year-on-year percentage change in headline consumer price index (UNIT_MEASURE=771).
- Central bank benchmark target: 3.0%-6.0% Target Range (4.5% Midpoint) (South African Reserve Bank).
- Annual table values represent annual average inflation across each calendar year.
Academic & Media Attribution
Cite This Dataset (APA & BibTeX)
APA 7th Edition
CentralBankData.com. (2026). South Africa Inflation Rate (CPI YoY %), compiled from Bank for International Settlements (WS_LONG_CPI:M:ZA:771). https://centralbankdata.com/south-africa-inflation-rate
BibTeX
@misc{cbd_cpi_south_africa,
author = {CentralBankData.com},
title = {South Africa Consumer Price Inflation Rate},
note = {Compiled from Bank for International Settlements WS_LONG_CPI:M:ZA:771},
year = {2026},
url = {https://centralbankdata.com/south-africa-inflation-rate}
}Related South African Reserve Bank & Global Series
Full South African Reserve Bank profile →Central Bank Interest Rates
South Africa SARB Repo Interest Rate (South Africa)
Sep 20267.25%
Central Bank Balance Sheets (USD)
South African Reserve Bank Balance Sheet Total Assets (USD)
Jul 2026$76.82B
Central Bank Assets Share of GDP
South African Reserve Bank Balance Sheet Share of GDP (South Africa)
2026 Q117.73%
Foreign Exchange & Gold Reserves
South Africa Foreign Exchange & Gold Reserves (USD)
2025$76.02B
Real Effective Exchange Rates (REER)
South African Rand (ZAR) Real Effective Exchange Rate (REER)
Sep 2026113.91
Consumer Price Inflation Rates & Targets
United States Inflation Rate (CPI YoY %)
Aug 20263.40%