Inflation Expectations

Inflation expectations
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Inflation Expectations

To help carry out its inflation targeting mandate, the South African Reserve Bank (SARB) commissioned the BER in 2001 to conduct a quarterly inflation expectations survey. Four social groups are covered in the survey, namely financial analysts, business people, trade union officials and households. The results of the Inflation Expectations Survey are provided in a quarterly report that is accompanied by an excel file containing the historic survey data. The inflation expectations for the current and next two years and forecast of various other economic variables (such as economic growth, the rand / dollar exchange rate and wage increases) of financial analysts, business people, trade union officials and households are available separately. Click here for information on the survey method.

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Inflation expectations, 2024-Q2

Date Uploaded: July 05 2024 10:00


During the second quarter of 2024, analysts, business people, and trade union officials all lowered their CPI inflation forecast for the entire three-year horizon. On average, they now anticipate inflation of 5.3% in 2024, 5.0% in 2025, and 4.9% in 2026. Their five-year inflation forecast fell below 5% (to 4.9%) for the first time since the fourth quarter of 2021. One-year-ahead inflation expectations of households continued to trend downward in the second quarter of 2024. It reached 6.4%, from a recent peak of 8.1% a year ago.