Current Inflation Rate 2024 South African Economy. The average inflation rate for the year was 6,0%, lower than 2022’s 6,9%. South africa's consumer inflation fell slightly more than expected in march, but analysts said the central bank was unlikely to start cutting interest rates for some months yet.

South africa’s inflation rate fell more than expected last month to its lowest since april 2021, data showed on wednesday, reinforcing expectations that the central bank will cut. The governor of the south african reserve bank, lesetja kganyago, is setting his sights on reducing the country’s inflation target after achieving the 4.5% goal that the.