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Impact of COVID-19 on projected inflation in South Africa 2020-2021

As of June 2020, the projected inflation rate in South Africa for the same year was revised to 5.2 percent, after the fallout of the coronavirus outbreak. The projection was done under the assumption of a worst-case scenario, where the pandemic persists to the end of 2020. Before the occurrence of COVID-19, the inflation rate was expected at 4.7 percent.

On the other hand, the inflation rate for 2021 was reviewed to 4.6 percent, in a worst-case scenario, whereas the previous outlook (before the pandemic) was at five percent.

Impact of coronavirus (COVID-19) on projected inflation in South Africa in 2020 and 2021

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Source

Release date

June 2020

Region

South Africa

Survey time period

June 2020

Supplementary notes

Assumptions:
1) Baseline scenario: pandemic subsides in July 2020
2) Worst-case scenario: pandemic continues to December 2020

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Statistics on "Coronavirus (COVID-19) in South Africa"

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