Inflation South Africa 2003
Average inflation: 5.9%
Current Inflation
Inflation is very high at 5.9%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 12.5%. The lowest inflation was in December at -1.6%.
- Highest month
- January: 12.5%
- Lowest month
- December: -1.6%
- Difference
- 14.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 8.4%. The lowest price increase was in Food and non-alcoholic beverages with an average of 8.4%.
- Highest increase
- Food and non-alcoholic beverages: 8.4%
- Lowest increase
- Food and non-alcoholic beverages: 8.4%
Historical Context
Current inflation is around the 5-year average of 6.3%.
- 5-year average
- 6.3%
- 10-year average
- 7.2%
- All-time high (1986)
- 18.7%
- All-time low (2000)
- 5.3%
Trend
Inflation has remained relatively stable. Compared to 2002, the difference is minimal (-3.6 percentage point).
- Change vs. previous year
- -3.6 percentage points
- Largest monthly swing
- November: -15.4 percentage points
ECB Target
Inflation is 3.9% 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 €100 this year will cost approximately €105.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 12.5% | +7.5 |
| February | 11.1% | +5.1 |
| March | 10.6% | +4.3 |
| April | 9.0% | +1.4 |
| May | 8.5% | +0.8 |
| June | 7.4% | -0.7 |
| July | 5.2% | -4.8 |
| August | 4.8% | -6.0 |
| September | 3.2% | -8.2 |
| October | 0.9% | -12.3 |
| November | -1.4% | -15.4 |
| December | -1.6% | -15.1 |
| Average | 5.9% |
Data source
Data from OECD. Last updated: 19/12/2025.