South Africa's consumer inflation rate rose to 4.5% in May 2026, up from 4.0% in April, marking the highest annual rate recorded since July 2024, when inflation stood at 4.6%.
The monthly change in the consumer price index (CPI) was 0.7% in May.
In a statement released on Wednesday, Statistics South Africa (Stats SA) attributed the increase in inflation primarily to higher fuel prices.
The fuel index recorded a second consecutive sharp monthly increase, rising by 14.3% and pushing the annual fuel inflation rate to 28.7%.
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"Over the past 12 months, petrol prices increased by 24,8% and diesel by 53,8%. The impact of higher fuel prices on overall inflation can be seen by looking at the 'CPI excluding fuel' index.
"The annual change in this index was 3,7% in May, the same as the previous month. The rate has moved in a narrow range between 3,5% and 3,8% over the past 12 months. The monthly increase was 0,2% in May," Stats SA said.
Stats SA added that inflation for food and non-alcoholic beverages (NAB) continues to subside, declining to 1.9% from 2.9% in April.
This is down from the peak of 5.7% recorded in July 2025.
"Annual deflation for cereal products deepened, dropping to -1.4% from -1.2% in April. Maize meal is 4.4% and brown bread 0.3% cheaper than a year ago.
"Meat inflation cooled in May, recording an annual increase of 7.3% compared with April's 9.4%. The monthly rate was -0.8%," Stats SA said.
Stewing beef prices dropped by 3.0% and beef mince by 2.4% between April and May.
The annual increase for these two products was 2.8% and 10.6% respectively.
Inflation for individual quick frozen (IQF) portions also decelerated, declining to 6.7% in May from 7.3% in April.
"Prices for fruits and nuts and vegetables are lower than a year ago at -8.5% and -6.0% respectively. Both categories have been in deflationary territory since October 2025," Stats SA said.
The annual rate for the milk, other dairy products and eggs category increased to 0.9% from 0.1% in April.
Several products recorded high monthly increases, including full cream long-life milk, up by 1.7% (2,2% year-on-year); low fat fresh milk, higher by 1.5% (3.5% year-on-year); and cheddar cheese, up by 1.5% (6.2% year-on-year).
Annual Inflation for the 'other food' category rose to 4.9% from 4.1% in April.
"Salad dressing rose by 2.3% between April and May and by 10,0% over the past 12 months. Mayonnaise prices witnessed a monthly increase of 2.2% and an annual rise of 8.1%.
"Salt jumped by 2.5% month-on-month and 9.3% year-on-year. Non-alcoholic beverages also experienced higher inflation rates, increasing to 4.9% from 4.6% in April.
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"The annual rate for Ceylon (black) tea rose to 8.3% from 7.8% in April. Rooibos tea also increased to 7.5% from 5.2%," Stats SA said.
