The annual inflation rate rose for the second month to 4.5% in September 2026 from 4.4% in August, but below the expected 4.7%. Still, the headline inflation remained above the SARB’s 3% target and the upper bound of its 2%–4% tolerance band. The acceleration was largely driven by rising transport prices, which climbed further by 10.8%, compared to 8.8% in August, largely reflecting a sharper increase in fuel prices (27.9% vs 20%). Diesel prices jumped 46.0%, while petrol prices rose 25.0%, following domestic price hikes. Food inflation also rose slightly faster to 1.2% from 1.1% in August. The core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, edged down to 4.0% in September from 4.1% in August. On a monthly basis, the CPI went up by 0.4%, after being flat in the previous month. source: Statistics South Africa

Inflation Rate in South Africa increased to 4.50 percent in September from 4.40 percent in August of 2026. Inflation Rate in South Africa averaged 8.45 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 October of 2026.

Inflation Rate in South Africa increased to 4.50 percent in September from 4.40 percent in August of 2026. Inflation Rate in South Africa is expected to be 5.20 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 4.00 percent in 2027 and 3.20 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-09-23 08:00 AM
Inflation Rate YoY
Aug 4.4% 4.3% 4.5% 4.6%
2026-10-21 08:00 AM
Inflation Rate YoY
Sep 4.5% 4.4% 4.7% 4.8%
2026-11-18 08:00 AM
Inflation Rate YoY
Oct 4.5% 4.8%



Components Last Previous Unit Reference
Core Consumer Prices 107.10 106.90 points Sep 2026
Core Inflation Rate YoY 4.00 4.10 percent Sep 2026
Core Inflation Rate MoM 0.20 0.00 percent Sep 2026
CPI Clothing and Footwear 102.20 102.00 points Sep 2026
CPI Education Services 110.10 110.10 points Sep 2026
CPI Food and Non-Alcoholic Beverages 105.50 105.60 points Sep 2026
CPI Housing Utilities 109.70 109.10 points Sep 2026
CPI Recreation, Sport and Culture 106.10 105.60 points Sep 2026
CPI Restaurants and Hotels 106.50 106.90 points Sep 2026
CPI Transportation 111.50 109.30 points Sep 2026
Food Inflation 1.20 1.10 percent Sep 2026

Related Last Previous Unit Reference
Consumer Price Index CPI 108.10 107.70 points Sep 2026
Inflation Rate YoY 4.50 4.40 percent Sep 2026
Inflation Rate MoM 0.40 0.00 percent Sep 2026
PPI MoM -0.40 -1.00 percent Aug 2026
Producer Prices 108.80 109.20 points Aug 2026
PPI YoY 5.00 5.70 percent Aug 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
4.50 4.40 20.70 0.20 1968 - 2026 percent Monthly

News Stream
South Africa Inflation Rises Less Than Forecast
The annual inflation rate rose for the second month to 4.5% in September 2026 from 4.4% in August, but below the expected 4.7%. Still, the headline inflation remained above the SARB’s 3% target and the upper bound of its 2%–4% tolerance band. The acceleration was largely driven by rising transport prices, which climbed further by 10.8%, compared to 8.8% in August, largely reflecting a sharper increase in fuel prices (27.9% vs 20%). Diesel prices jumped 46.0%, while petrol prices rose 25.0%, following domestic price hikes. Food inflation also rose slightly faster to 1.2% from 1.1% in August. The core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, edged down to 4.0% in September from 4.1% in August. On a monthly basis, the CPI went up by 0.4%, after being flat in the previous month.
2026-10-21
South Africa Inflation Rate Below Forecasts at 4.4%
The annual inflation rate inched up to 4.4% in August 2026 from 4.3% in July, but undershooting the expected 4.5%. Still, inflation remains well above the SARB's goal of 3%. Transportation remained the main source of upward pressure, with prices rising 8.8% year-on-year, after an 8.9% advance in July. Petrol prices fell 2.0% between July and August, while diesel prices rose 3.1%. Housing and utilities inflation remained elevated at 5.2%, unchanged from July, with electricity, gas and other fuels inflation accelerating to 8.3% from 7.4%. Food inflation also picked up, rising to 1.1% from 0.9%, marking its first increase since November 2025. Meanwhile, core inflation, which excludes prices of food, non-alcoholic beverages, fuel, and energy, eased to 4.1% from a two-year high of 4.2% in July and slightly below the expected 4.2%. On a monthly basis, the CPI was flat in August, after increasing by 0.2% in the month before.
2026-09-23
South Africa Inflation Rate Cools More than Anticipated
South Africa's annual inflation rate eased to 4.3% in July 2026 from a two-year high of 5% in the prior month and below analysts' estimates of 4.5%. This marked the first slowdown in five months, helped by softer transportation costs (8.9% vs 12.7% in June). Fuel prices slowed to 20.6% from 34.3%, reflecting lower South African petrol prices as crude oil prices pulled back from their early-Middle East-conflict highs. The easing was further supported by food and non-alcoholic beverages (0.9% vs 1.6%), driven by lower cereal prices (-2% vs -1.5%) and slower meat inflation (1.5% vs 5.1%). Price growth also moderated for housing and utilities (5.2% vs 5.5%), on smaller municipal tariff increases. Meanwhile, core inflation, which excludes prices of food, non-alcoholic beverages, fuel, and energy, inched up to 4.2% from 4.1% in June, reaching the highest since July 2024. On a monthly basis, the CPI rose by 0.2% in July, down from a 0.7% increase in the month before.
2026-08-19