Cape Town – South Africa’s annual consumer inflation rate accelerated to 4.5% in May 2026, up from 4.0% in April, marking the highest level recorded since July 2024, according to the latest Consumer Price Index (CPI) data released by Statistics South Africa.
The monthly increase in the CPI stood at 0.7%, with rising fuel costs identified as the primary driver behind the increase in inflation.
The fuel index recorded a second consecutive sharp monthly rise, increasing by 14.3% in May. On an annual basis, fuel prices were 28.7% higher than a year ago. Petrol prices increased by 24.8% over the past 12 months, while diesel prices surged by 53.8%.
Statistics South Africa noted that the impact of higher fuel costs on headline inflation was significant. Excluding fuel, annual inflation remained unchanged at 3.7% in May, the same level recorded in April. The measure has remained relatively stable between 3.5% and 3.8% over the past year.
Meanwhile, inflation for food and non-alcoholic beverages continued to ease, slowing to 1.9% in May from 2.9% in April. The category has steadily declined from its peak of 5.7% recorded in July 2025.
Prices for cereal products remained in deflationary territory, with annual inflation falling to -1.4% from -1.2% in April. Maize meal was 4.4% cheaper than a year ago, while brown bread prices declined by 0.3%.
#SAInflation || South Africa’s inflation rises to 4,5% in May 2026. The inflation surge was largely driven by increases in fuel prices.
The fuel index recorded a second large monthly increase, leaping by 14,3% to reach an annual rise of 28,7%.
Over the past 12 months, prices… pic.twitter.com/HbNhiPAOM7
— Statistics South Africa (Stats SA) (@StatsSA) June 17, 2026
Meat inflation also moderated, with annual growth slowing to 7.3% from 9.4% in April. On a monthly basis, meat prices fell by 0.8%, driven by declines in key products such as stewing beef, which dropped by 3.0%, and beef mince, which fell by 2.4% between April and May.
Consumers also benefited from lower prices for fruits, nuts and vegetables. Prices for fruits and nuts were 8.5% lower than a year ago, while vegetables declined by 6.0%. Both categories have experienced annual deflation since October 2025.
However, some food items continued to record price increases. Inflation in the milk, dairy products and eggs category rose to 0.9% from 0.1% in April. Full cream long-life milk increased by 1.7% month-on-month, while low-fat fresh milk and cheddar cheese each rose by 1.5%.
The “other food” category also recorded higher inflation, rising to 4.9% from 4.1% in April. Products such as salad dressing, mayonnaise and salt registered notable monthly and annual price increases.
Inflation for non-alcoholic beverages accelerated to 4.9% from 4.6% in April. Prices for both Ceylon tea and rooibos tea increased further during the month.
The latest figures suggest that while food inflation continues to moderate, rising fuel costs are placing renewed pressure on consumer prices and pushing headline inflation to its highest level in nearly two years.
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Compiled by Betha Madhomu
