The reported annual inflation rates for July 2020 of SADC Member States indicate that four Member States have recorded highest double-digit inflation rates as follows: Angola (22.5%), DRC (13.6%), Zambia (19.2%) and Zimbabwe (871.6%) whilst Seychelles registered lowest inflation rate of 0.3%. The annual inflation rates for the rest of the other Member States were as follows: Botswana (1.5%), Eswatini (4.2%), Lesotho (5.1%), Madagascar (5.1%), Mozambique (2.8%), Namibia (4.0%), South Africa (4.6%) and Tanzania (3.3%), as reflected in table 2 in the attached document.
Compared to the SADC regional annual average inflation rate of 46.9% for July 2020, fourteen SADC Member States recorded annual rates below the regional average whilst one Member States namely Zimbabwe registered rate higher than the regional average. See figure 3 below for more details.
Month on Month Inflation rates for SADC Member States
Most SADC Member States registered increases in the month on month inflation rate in July 2020 with the exception of Malawi, Mauritius, Mozambique, Eswatini and Tanzania registering decreases. The highest increase was registered by Zimbabwe (36.4%) followed by DRC (2.7%).
Annual Inflation Rates by COICOP divisions
With regard to the Classification of Individual Consumption by Purpose (COICOP) major divisions, three Divisions registered annual inflation less than the regional average of 46.9% in July 2020. These include Education (11.8%), Housing, Water, Electricity, Gas and Other Fuels (20.2%) and Restaurant & Hotels (45.5%). See table 4 below.
Month on Month Inflation Rates by COICOP divisions
All the Divisions recorded increases in the month on month inflation in July 2020. The highest increase was registered in Communication (26.1%) followed by Transport (12.8%).