South Africa’s annual inflation rate quickened to 4% in April 2026 from 3.1% in the prior month and slightly above the expected 3.9%. This marked the steepest reading since August 2024, moving further away from the South African Reserve Bank’s 3% inflation target. Main upward pressure came from housing and utilities (5.2% vs 5.1% in March), driven by a recent increase in electricity tariffs, and transportation (4.9% vs -1.6%), as petrol prices were raised in early April, with a lagged pass-through from higher global oil prices linked to the Iran war also contributing. Meanwhile, food price growth eased further (2.9% vs 3.6%) amid strong farm output, while prices also slowed for restaurants and hotels (5.2% vs 5.9%). The core inflation rate, which excludes prices of food, non-alcoholic beverages, fuel, and energy, rose to 3.6%, the highest since December 2024, up from March's 3.2%. Monthly, the CPI rose by 1.1% in April, the most since July 2022, after a 0.6% increase in March. source: Statistics South Africa

Inflation Rate in South Africa increased to 4 percent in April from 3.10 percent in March of 2026. Inflation Rate in South Africa averaged 8.47 percent from 1968 until 2026, reaching an all time high of 20.70 percent in January of 1986 and a record low of 0.20 percent in January of 2004. This page provides - South Africa Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2026.

Inflation Rate in South Africa increased to 4 percent in April from 3.10 percent in March of 2026. Inflation Rate in South Africa is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Inflation Rate is projected to trend around 3.30 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-22 08:00 AM
Inflation Rate YoY
Mar 3.1% 3% 3.1% 4.1%
2026-05-20 08:00 AM
Inflation Rate YoY
Apr 4% 3.1% 3.9% 4.0%
2026-06-17 08:00 AM
Inflation Rate YoY
May 4% 4.5%



Components Last Previous Unit Reference
Core Consumer Prices 105.60 105.10 points Apr 2026
Core Inflation Rate YoY 3.60 3.20 percent Apr 2026
Core Inflation Rate MoM 0.50 0.80 percent Apr 2026
CPI Clothing and Footwear 101.70 101.60 points Apr 2026
CPI Education Services 110.10 110.10 points Apr 2026
CPI Food and Non-Alcoholic Beverages 105.20 104.50 points Apr 2026
CPI Housing Utilities 105.80 105.70 points Apr 2026
CPI Recreation, Sport and Culture 104.30 104.10 points Apr 2026
CPI Restaurants and Hotels 105.30 106.50 points Apr 2026
CPI Transportation 105.20 99.70 points Apr 2026
Food Inflation 2.90 3.60 percent Apr 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 106.00 104.80 points Apr 2026
Inflation Rate YoY 4.00 3.10 percent Apr 2026
Inflation Rate MoM 1.10 0.60 percent Apr 2026
PPI MoM 1.10 0.00 percent Mar 2026
Producer Prices 104.50 103.40 points Mar 2026
PPI YoY 2.30 1.80 percent Mar 2026


South Africa Inflation Rate
In South Africa, the most important categories in the Consumer Price Index are: Housing & Utilities (23% of the total weight), Food & Non-alcoholic Beverages (19%), and Transport (15%). Others include: Miscellaneous Goods & Services (15%), Alcoholic Beverages & Tobacco (6%), Recreation & Entertainment (5%), Household Contents, Equipment & Maintenance (4%), Clothing & Footwear (4%), Restaurants & Hotels (3%), Education (2%), and Communications (2%).
Actual Previous Highest Lowest Dates Unit Frequency
4.00 3.10 20.70 0.20 1968 - 2026 percent Monthly

News Stream
South Africa Inflation Rate Hits Over 1-1/2-Year High
South Africa’s annual inflation rate quickened to 4% in April 2026 from 3.1% in the prior month and slightly above the expected 3.9%. This marked the steepest reading since August 2024, moving further away from the South African Reserve Bank’s 3% inflation target. Main upward pressure came from housing and utilities (5.2% vs 5.1% in March), driven by a recent increase in electricity tariffs, and transportation (4.9% vs -1.6%), as petrol prices were raised in early April, with a lagged pass-through from higher global oil prices linked to the Iran war also contributing. Meanwhile, food price growth eased further (2.9% vs 3.6%) amid strong farm output, while prices also slowed for restaurants and hotels (5.2% vs 5.9%). The core inflation rate, which excludes prices of food, non-alcoholic beverages, fuel, and energy, rose to 3.6%, the highest since December 2024, up from March's 3.2%. Monthly, the CPI rose by 1.1% in April, the most since July 2022, after a 0.6% increase in March.
2026-05-20
South Africa Inflation Rate Ticks Up to 3.1% as Forecast
South Africa’s annual inflation rate edged up to 3.1% in March 2026 from 3% in the prior month, matching market expectations. In March, the impact of the Middle East conflict was only starting to feed into domestic prices. The main positive contributors were housing & utilities (5.1% vs 4.8% in February); food & non-alcoholic beverages (3.6% vs 3.7%) and insurance and financial services (4.6% vs 4.5%). In the meantime, prices fell at a slower pace for transportation (-1.6% vs -2.1%). The annual core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, rose to 3.2% from a seven-month low of 3.0% in the prior month. On a monthly basis, the CPI rose by 0.6%, after a 0.4% increase in the prior month.
2026-04-22
South Africa Inflation Rate Slows More than Expected
South Africa’s annual inflation rate fell for the second month to 3% in February 2026, the lowest since June 2025, slightly below market forecasts of 3.1%. The continued slowdown was largely driven by a 2.1% drop in transportation prices, following a 0.2% fall the previous month, reflecting a sharper decline in fuels (-10.1% vs -3.7%). The slower price growth in food and non-alcoholic beverages (3.7% vs 4.4%) and in health (4.4% vs 5%) also contributed. On the other hand, price increases were most notable for alcoholic beverages & tobacco (5% vs 4.5%); housing & utilities (4.8% vs 4.8%); restaurants & hotels (3.8% vs 3.5%). The annual core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, eased to a seven-month low of 3% in February, down from January's 3.4%. On a monthly basis, the CPI rose by 0.4%, after a 0.2% increase in the prior month.
2026-03-18