South Africa’s consumer price inflation picked up in March 2026, with the month-over-month Consumer Price Index (CPI) rising 0.6%, up from a 0.4% increase recorded in February 2026. The latest data, updated on 22 April 2026, point to a modest acceleration in price pressures on a short-term basis.
The March reading indicates that prices grew faster compared with the previous month, when February’s CPI increase of 0.4% reflected a more subdued pace of inflation. On a month-over-month basis, the “actual” figure for March compares the change in prices from February to March, while the “previous” figure for February measured the change from January to February. The step-up from 0.4% to 0.6% suggests rising momentum in consumer prices as the first quarter of 2026 draws to a close.
Market participants and policymakers will be watching subsequent releases closely to determine whether this uptick signals a temporary fluctuation or the start of a more sustained acceleration in inflation, which could have implications for interest rate expectations and broader economic conditions in South Africa.
