A key distinction between South Africa and most other countries’ experiences in the crisis has been the extent of job destruction, particularly considering the relatively shallow recession we experienced. Stronger economic performance in 2010 gave way to much more volatile real economy outcomes in 2011.
Average annual inflation stood at 1.4% in 2013, with inflation declining markedly over the year, from 2.2% in December 2012 to 0.8% in December 2013. Low inflation mainly reflected a strong decline in energy and food price inflation.