South Africa PPI Inflation Hits 2-Year Peak

South Africa's PPI inflation climbed further to 4.8% in April 2026 from 2.3% in the prior month, marking the highest reading since April 2024. Upward pressure came mainly from coke, petroleum, chemical, rubber and plastic products (+11.8%), particularly fuels amid recent increases linked to the Middle East conflict, as well as food, beverages and tobacco products (+1.9%) and paper and printed products (+6.4%). On a monthly basis, producer prices jumped by 3% in April, after a 1.1% increase in the previous month.

South Africa's PPI inflation quickened to 2.3% in March 2026 from a seven-month low of 1.8% in the prior month. The biggest positive contributors were food products, beverages and tobacco products (2.2% vs 2.3% in February) and furniture and other manufacturing (14.1% vs 12.1%). Prices also accelerated for non-metallic mineral products (7.1% vs 6.5%); electrical machinery and communication and metering equipment (3.9% vs 2.5%) and transport equipment (1% vs 0.4%). At the same time, costs of coal and petroleum products decreased at a slower pace (-4.8% vs -8.9%).On a monthly basis, producer prices climbed by 1.1% in March, marking the strongest increase since March 2024, after being flat in the prior month.

South Africa's PPI inflation eased for the second month to 1.8% in February 2026, marking the lowest since July, compared to 2.2% in the prior month. Costs declined further for coal and petroleum products (-8.9% vs -4.1% in January), largely on account of fuels such as petrol (12.8% vs -5.3%) and diesel (-12.4% vs -4.8%). At the same time, price growth softened a bit for some items, including food products, beverages and tobacco products (2.3% vs 2.4%); paper and printed products (4.9% vs 5%) and furniture and other manufacturing (12.1% vs 12.2%). On a monthly basis, producer prices were flat, after decreasing by 0.2% in the previous month.