Cape Town – South Africa’s consumer price inflation eased slightly to 3,5% in January 2026, down from 3,6% in December, returning to the level recorded in November 2025, according to Stats SA.
The slowdown was driven by stable food inflation and lower fuel prices, while the monthly change in the consumer price index (CPI) remained steady at 0,2%, unchanged from December.
Food Prices Show Mixed Trends
Food inflation held at 4,4% for the third consecutive month, but certain staples saw significant relief. The annual rate for cereal products fell sharply to 0,6% from 2,1% in December.
White rice prices recorded an 11th month of deflation, falling 11,0% year-on-year, while maize meal inflation slowed from 9,5% to 2,6%.
Oils and fats also became more affordable, with prices rising 4,0% annually compared with 4,6% in December. Olive oil is now 7,9% cheaper than a year ago, and butter is down 0,7%.
#SAInflation || School uniforms were more expensive in January, while several stationary items were cheaper.
Read more on the latest #CPI figures here: https://t.co/HMJW9LKZdT#StatsSA #KnowYourStatsZA #GovZAupdates pic.twitter.com/Xlx0Gn2G0A
— Statistics South Africa (Stats SA) (@StatsSA) February 18, 2026
The milk, other dairy products, and eggs category remained in deflation at -0,5%, up slightly from December’s -1,1%. Fresh full-cream milk (-1,4%), fresh low-fat milk (-1,6%), and eggs (-7,6%) drove the decline. A tray of six eggs now costs R22,90, down from R24,51 in January 2025 and well below the December 2023 peak of R25,85.
Meat Prices Continue to Surge
Despite relief in other food items, meat prices surged further. Annual meat inflation jumped to 13,5% from December’s 12,6%, marking the highest level since December 2017. Beef products experienced the sharpest increases, with beef steak up 31,2%, stewing beef 30,3%, and beef mince 28,0%. Even lower-cost cuts were affected: beef offal rose to 17,2%, while pork prices jumped to 19,5%.
Fuel and Other Key Items
Fuel prices declined across the board, contributing to the overall slowdown in inflation. The index for fuel fell 3,7% year-on-year, with petrol down 3,1% and diesel 5,4%. Inland 95-octane petrol averaged R20,75 per litre in January, the lowest in nearly four years.
Financial services costs rose slightly as several banks increased annual fees in January, contributing to a 4,9% annual inflation rate for the sector.
The start of the school year also affected prices, with school uniform items included in the CPI basket since January 2025. Prices for school jerseys rose 7,0%, school skirts or dresses 3,2%, and school shoes 4,1% compared with January 2025. Stationery items, however, became cheaper: pens fell 9,8%, writing books 5,0%, printing paper 3,5%, and textbooks 1,3%, bringing the annual textbook inflation to -3,3%.
Stats SA’s January data indicate that while headline inflation has eased slightly, rising meat prices and school-related expenses continue to affect household budgets.
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Compiled by Betha Madhomu
