Average consumer prices inflation rate

(%)

In 2017, inflation rate in South Africa was 5.3 %. In the ranking by inflation rate including 189 countries, South Africa has the 52nd rank that is close to the positions of such countries as Tunisia and the Nauru. Compared to Venezuela (Bolivarian Republic of) which at the top of the ranking with inflation rate of 1,087.5 % in 2017, South Africa has 99.52 % percent lower inflation rate.

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Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data for inflation are averages for the year, not end-of-period data.