FX.co ★ South Africa PPI Inflation Quickens to Over 3-Year High

South Africa’s producer price inflation accelerated for the third consecutive month, reaching 7.8% in May 2026, up from 4.8% in April and marking the highest rate since April 2023. The rise was largely driven by coke, petroleum, chemical, rubber and plastic products, which jumped 22.1% on the back of higher fuel costs, notably diesel (+66.7%) and petrol (+28.1%). Additional significant contributors were paper and printed products (+8.7%); food, beverages and tobacco (+2.1%); and metals, machinery and equipment (+2.9%). On a monthly basis, the CPI rose 2.6%, easing slightly from a 3% increase in the previous month.