South Africa: in July 2021 the South African Reserve Bank expected inflation of 4.2% for 2022; the outcome was 6.9%
Forecasts of 49 releases (2015–2024) for the next year: the outcome above the forecast 17 times, below 32; typical error −0.60 percentage points. The largest under-forecast in July 2021: 4.2% expected for 2022, the outcome was 6.9%. The largest over-forecast in March 2019: 5.3% expected for 2020, the outcome was 3.3%.
Source: Central banks: published forecasts; actual: official statisticsOpen on the chart →