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. source: Statistics South Africa

Inflation Rate in South Africa decreased to 3 percent in February from 3.50 percent in January of 2026. Inflation Rate in South Africa averaged 8.49 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 March of 2026.

Inflation Rate in South Africa decreased to 3 percent in February from 3.50 percent in January of 2026. Inflation Rate in South Africa is expected to be 3.30 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 3.20 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-18 08:00 AM
Inflation Rate YoY
Jan 3.5% 3.6% 3.4% 3.7%
2026-03-18 08:00 AM
Inflation Rate YoY
Feb 3% 3.5% 3.1% 3.4%
2026-04-22 08:00 AM
Inflation Rate YoY
Mar 3% 3.3%

Components Last Previous Unit Reference
Core Consumer Prices 104.30 103.60 points Feb 2026
Core Inflation Rate YoY 3.00 3.40 percent Feb 2026
Core Inflation Rate MoM 0.70 0.30 percent Feb 2026
CPI Clothing and Footwear 101.40 101.30 points Feb 2026
CPI Education Services 104.50 104.50 points Feb 2026
CPI Food and Non-Alcoholic Beverages 104.50 104.80 points Feb 2026
CPI Housing Utilities 104.90 104.90 points Feb 2026
CPI Recreation, Sport and Culture 103.50 102.80 points Feb 2026
CPI Restaurants and Hotels 104.80 104.20 points Feb 2026
CPI Transportation 99.10 99.90 points Feb 2026
Food Inflation 3.70 4.40 percent Feb 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 104.20 103.80 points Feb 2026
Inflation Rate YoY 3.00 3.50 percent Feb 2026
Inflation Rate MoM 0.40 0.20 percent Feb 2026
PPI MoM -0.20 0.20 percent Jan 2026
Producer Prices 103.40 103.60 points Jan 2026
PPI YoY 2.20 2.90 percent Jan 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
3.00 3.50 20.70 0.20 1968 - 2026 percent Monthly

News Stream
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
South Africa Inflation Rate Slows in January
South Africa’s annual inflation rate edged down to 3.5% in January 2026 from 3.6% in the prior month, though slightly above analysts' estimates of 3.4%. Lower transportation costs (-0.2% vs 1% in December), largely reflecting a decline in fuel prices (-3.7% vs 0.6%), were the main drag on overall price growth. Meanwhile, inflation in the heavyweight categories of housing and utilities (4.8% vs 4.9%) and food and non-alcoholic beverages (4.4% vs 4.4%) remained elevated, continuing to support overall price pressures. Food inflation was underpinned by higher meat prices (13.5% vs 12.6%), amid persistent supply constraints linked to foot-and-mouth disease. The annual core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, rose to a near one-year high of 3.4% in January, from 3.3% in December. On a monthly basis, the CPI rose by 0.2%, maintaining the same pace as the previous month.
2026-02-18
South Africa Inflation Rate Rises to 3.6%
South Africa’s annual inflation rate inched up to 3.6% in December 2025 from 3.5% in the prior month, in line with analysts' expectations. The headline inflation rate remains within the 1 percentage point tolerance band of the SARB's new 3% target. The main contributors to the increase were housing & utilities (4.9%), food & non-alcoholic beverages (4.4%) and insurance and financial services (7%). The core inflation rate, which excludes food, non-alcoholic beverages, fuel, and energy, rose to 3.3% in December, the highest in ten months, from 3.2% in November. On a monthly basis, the CPI rose by 0.2%, after decreasing by 0.1% in the previous month. The average inflation rate for 2025 was 3.2%, marking the lowest level in 21 years and below the central bank’s 3.3% forecast.
2026-01-21