South Africa PPI Inflation Quickens to Over 3-Year High

Producer price inflation in South Africa quickened for the third month to 7.8% in May 2026, from April's 4.8% and marking the steepest since April 2023. The increase was mainly driven by coke, petroleum, chemical, rubber and plastic products, which surged 22.1% on higher fuel prices, including diesel (+66.7%) and petrol (+28.1%). Other key contributors included paper and printed products (+8.7%); food, beverages and tobacco (+2.1%); and metals, machinery and equipment (+2.9%). On a monthly basis, the CPI advanced by 2.6%, following a 3% surge in the previous month.

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.