Reference On 24 June, the government presented a supplementary emergency budget for the current fiscal year (FY) 2020–2021, which runs until March 2021. Therefore, Depending on the data available, results can be obtained by using the compound interest formula or the Consumer Price Index (CPI) formula.Given that money changes with time as a result of an inflation rate that acts as a compound interest, the following formula can be used: In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. It was the lowest rate since September of 2004, pushed down by transport prices (-8.4% vs -3.5% in April), of which fuels (-25.9% vs -12.8%). Inflation Rate Mom in South Africa averaged 0.64 percent from 1960 until 2020, reaching an all time high of 6.70 percent in April of 1964 and a record low of -0.70 percent in October of 2003. The annual inflation rate eased to 2.1% in May of 2020 from 3% in April and compared with market consensus of 2.2%, thus falling below the lower end of the Reserve Bank's target band of 3-6%. Restaurants and Hotels, Education, Communication and Health account for the remaining 10 percent. South Africa’s annual inflation rate nudged up to 4,6% in February from January’s 4,5%, inching past the 4,5% midpoint of the South African Reserve Bank’s monetary policy target range.
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Inflation Rate MoM measures month over month change in the price of goods and services. In other words, the future value is the amount in 2020 that equals R100 in 1958 in terms of purchasing power.
Therefore, we can resolve the formula like this:When the CPI for both start and end years is known, the following formula can be used: In this case, the CPI in 1958 was 1.3 and in 2020 was 123.72. Meanwhile, inflation edged higher food & non-alcoholic beverages (4.4 percent vs 4.2 percent); housing & utilities (4.8 percent vs 4.7 percent) and miscellaneous goods & services (6.4 percent vs 6.3 percent). The inflation rate is based upon the consumer price index (CPI). Looking at the details of the release, transportation prices fell at a quicker pace in May compared to the previous month, while prices for alcoholic beverages and tobacco dropped.
May's result marked the sharpest fall in prices since December 2008. Data published Monthly by Statistics. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. This means that The following chart depicts the equivalence of south african rand throughout the years due to compound inflation and CPI changes. The Trading Economics Application Programming Interface (API) provides direct access to our data. Read more.
All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
FocusEconomics Consensus Forecast panelists see inflation averaging 3.6% in 2020, which is up 0.1 percentage points from last month’s estimate, and 4.3% in 2021.5 years of economic forecasts for more than 30 economic indicators.Get a sample report showing our regional, country and commodities data and analysis.
Statistics on Consumer Price Index (CPI), food inflation and Harmonised Consumer Prices.
There are 62 years between 1958 and 2020 and the average inflation rate was 7.6235%. Inflation Rate MoM Final value = Initial value * Inflation Rate MoM
South Africa … Also, inflation was steady for clothing & footwear (at 0.6%) and education (at 6.4%). South Africa: SARB cuts repo rate again in July to new all-time low. Inflation Rate YoY Prices increased further for alcoholic beverages & tobacco (1.4% vs 1.3% in May); while cost of transport fell less (-5.9% vs -8.4%), of which fuels (-20.9% vs -25.9%). Inflation Rate MoM Inflation Rate MoM
The average annual inflation rate between these periods was 7.62%. July 23, 2020. Inflation edges up to 4,6%.
This page provides - South Africa Inflation Rate Mom - actual values, historical data, forecast, chart, statistics, economic calendar and news.