Inflation South Africa 1970
Average inflation: 5.0%
Inflation in 1970
Inflation is very high at 5.0%, far above the ECB target.
Peak and Trough
The highest inflation was in August at 7.2%. The lowest inflation was in March at 2.7%.
- Highest month
- August: 7.2%
- Lowest month
- March: 2.7%
- Difference
- 4.5 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 1.5 percentage points higher than the 5-year average of 3.5%. This approaches the highest level since records began (5.0% in 1970).
- 5-year average
- 3.5%
- 10-year average
- 2.9%
- All-time high (1970)
- 5%
- All-time low (1962)
- 1.2%
Trend
Over the period 1968-1970, inflation shows an upward trend. Compared to 1969, inflation has risen by 1.7 percentage points.
- Change vs. previous year
- +1.7 percentage points
- Largest monthly swing
- August: +4.2 percentage points
ECB Target
Inflation is 3.0 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for ZAR 100 this year will cost approximately ZAR 105 next year at this inflation rate.
Multi-year trend
Monthly figures 1970
Month overview
| Month | Inflation | Difference vs. 1969 |
|---|---|---|
| January | 3.5% | +0.5 |
| February | 3.5% | +0.8 |
| March | 2.7% | -0.6 |
| April | 5.1% | +1.8 |
| May | 4.8% | +1.2 |
| June | 4.8% | +1.5 |
| July | 4.5% | +1.5 |
| August | 7.2% | +4.2 |
| September | 6.6% | +3.6 |
| October | 6.1% | +2.6 |
| November | 5.8% | +2.3 |
| December | 5.3% | +1.5 |
| Average | 5.0% |
Data source
Data from OECD. Last updated: 24/11/2025.