Current Inflation Rate 2024 South Africa. The inflation rate is based upon the consumer price index (cpi). It has hiked its policy rate by 525 basis points since 2022.

The annual change in the consumer price index (cpi) was 5,1% in june, down from 5,2% in may. South africa’s annual inflation rate eased to 5.1% in june 2024, edging lower from 5.2% in the previous two months, but remained above the central bank’s target of 4.5%.