South Africa’s core consumer price index (CPI) rose 0.6% month-over-month in June 2026, up sharply from a 0.2% increase in May 2026, according to data updated on 22 July 2026. The core measure, which tracks underlying inflation by excluding more volatile components, shows a notable pickup in price momentum over the month.
On a month-over-month basis, the latest reading indicates that underlying price pressures strengthened in June compared with May, when inflation was relatively subdued. The comparison framework highlights that the “actual” figure for June reflects the change versus May 2026, while the “previous” figure captures May’s change versus April 2026.
The acceleration in core CPI will likely draw attention from market participants and policymakers who monitor this measure as a guide to underlying inflation trends. A sustained move higher in core inflation could influence expectations for the future path of interest rates and broader financial conditions in South Africa.
