Independent Economist Elize Kruger expects inflation to remain well contained despite an increase in the July Consumer Price Inflation (CPI).

The CPI rose from 3% in June to 3.5% in July.

The main drivers of the headline inflation were food and non-alcoholic beverages and housing and utilities

Kruger says the uptick in headline inflation is in line with market expectations.

She says, “I do still forecast an average a headline CPI number of about 3.5% so it’s still moderate compared to last year’s 4.4 and it’s still comfortably within the target band of the Reserve Bank from that point of view. Inflation remains quite under control in South Africa, although we will see an upward trend towards the end of the year.”

#ZAinflation || The family braai has become more expensive, while prices for several breakfast items have eased.

Read more on the latest #ZACPI figures here: https://t.co/0KCQV9vuJu#StatsSA #KnowYourStatsZA #GovZAupdates pic.twitter.com/0kDdUVsIuR

— Statistics South Africa (Stats SA) (@StatsSA) August 20, 2025