South Africa’s consumer price inflation increased to 4.5% in May 2026, up from 4.0% in April, marking the highest annual rate since July 2024 when it stood at 4.6%. According to Statistics South Africa (Stats SA), which released the data on Wednesday, the monthly change in the consumer price index (CPI) was 0.7%.
Stats SA attributed the inflation rise primarily to higher fuel prices. The fuel index recorded a 14.3% monthly increase—the second consecutive sharp rise—pushing the annual fuel inflation rate to 28.7%. Over the past 12 months, petrol prices rose by 24.8% and diesel by 53.8%.
Excluding fuel, the annual CPI change remained steady at 3.7% in May, consistent with the previous month and within a narrow range of 3.5% to 3.8% over the past year. The monthly increase for the CPI excluding fuel was 0.2%.
Inflation for food and non-alcoholic beverages (NAB) continued to decline, falling to 1.9% in May from 2.9% in April, and down significantly from a peak of 5.7% in July 2025.
Cereal products experienced deepened annual deflation, dropping to -1.4% from -1.2% in April. Maize meal and brown bread were 4.4% and 0.3% cheaper year-on-year, respectively. Meat inflation also cooled, with the annual increase slowing to 7.3% from 9.4% in April, alongside a monthly decrease of 0.8%. Between April and May, stewing beef prices fell by 3.0% and beef mince by 2.4%, while their annual increases stood at 2.8% and 10.6%, respectively. Inflation for individual quick frozen (IQF) portions decelerated to 6.7% from 7.3%.
Furthermore, prices for fruits and nuts and vegetables remained in deflationary territory, recording annual decreases of 8.5% and 6.0%, respectively. Both categories have been in deflation since October 2025.
Conversely, the annual inflation rate for milk, other dairy products, and eggs rose to 0.9% from 0.1% in April. Notable monthly price increases included full cream long-life milk (1.7%), low-fat fresh milk (1.5%), and cheddar cheese (1.5%), with corresponding year-on-year increases of 2.2%, 3.5%, and 6.2%.
Inflation for the “other food” category increased to 4.9% from 4.1%. Salad dressing prices rose by 2.3% monthly and 10.0% annually, while mayonnaise saw increases of 2.2% monthly and 8.1% annually. Salt prices jumped 2.5% month-on-month and 9.3% year-on-year.
Non-alcoholic beverages inflation also accelerated to 4.9% from 4.6%. The annual inflation rate for Ceylon (black) tea rose to 8.3% from 7.8%, and Rooibos tea increased to 7.5% from 5.2%.
