Financial News: South Africa Inflation Climbs To 22-month High

South Africa Inflation Climbs To 22-month High

06/17/2026 - 04:34:00 (RTTNews)

(RTTNews) - South Africa's consumer price inflation accelerated further in May to the highest level in nearly two years amid higher fuel costs, figures from Statistics South Africa showed on Wednesday.

The consumer price index, or CPI, climbed 4.5 percent year-on-year in May, faster than the 4.0 percent rise in the previous month. The expected inflation rate was 4.7 percent.

Moreover, this was the highest inflation rate since July 2024, when prices rose 4.6 percent.

Inflation based on transportation quickened to 9.4 percent from 4.9 percent amid a 28.7 percent surge in fuel costs. The annual price growth in housing and utilities accelerated slightly to 5.3 percent from 5.2 percent. Meanwhile, prices for food and non-alcoholic beverages grew at a slower pace of 1.9 percent versus a 2.9 percent increase in April.

Excluding food and non-alcoholic beverages, fuel, and energy, core inflation climbed to 3.8 percent from 3.6 percent in April.

On a monthly basis, consumer prices moved up 0.7 percent in May.

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