PRETORIA — The South Africa inflation rate climbed to 4.5% in May 2026, marking the highest annual increase since July 2024, as escalating fuel costs heavily impacted the broader economy. The monthly Consumer Price Index (CPI) recorded a 0.7% jump, pushing the figure up from 4.0% in April, Statistics South Africa (Stats SA) announced in a Wednesday statement.
Energy Costs Drive the Broader Surge
Stats SA identified surging energy costs as the primary catalyst for the overall price increases. The fuel index experienced its second consecutive steep monthly hike, jumping 14.3% and driving the annual fuel inflation rate to 28.7%.
Over a 12-month period, diesel prices skyrocketed by 53.8%, while petrol prices advanced by 24.8%.
However, isolating the energy sector reveals a more stable underlying economic trend. The annual change for the CPI excluding fuel held steady at 3.7% in May, matching April’s figure. This core metric has fluctuated within a tight band of 3.5% to 3.8% over the last year, recording a modest 0.2% monthly increase.
Food Inflation Continues to Cool
In stark contrast to energy, food and non-alcoholic beverages (NAB) inflation continued its downward trajectory, easing to 1.9% in May from 2.9% the previous month. This represents a significant drop from the 5.7% peak observed in July 2025.
Cereal products saw annual deflation deepen to -1.4% from -1.2% in April. Specifically, brown bread became 0.3% cheaper year-on-year, and maize meal prices fell by 4.4%.
Meat inflation also decelerated, with the annual rate slowing to 7.3% from 9.4% in April, accompanied by a 0.8% monthly decline. Month-on-month, beef mince dropped 2.4% and stewing beef fell 3.0%. Year-on-year, these cuts saw increases of 10.6% and 2.8%, respectively. Individual quick frozen (IQF) portions also cooled, with inflation dropping to 6.7% from 7.3%.
Fresh produce remained in deflationary territory, continuing a trend that began in October 2025. Vegetables prices were 6.0% lower than the previous year, while fruits and nuts saw an 8.5% annual decrease.
Dairy, Condiments, and Beverages See Price Hikes
Despite the broader food cooling, specific grocery categories experienced notable price hikes.
The annual inflation rate for milk, other dairy products, and eggs ticked up to 0.9% from 0.1% in April. Month-on-month increases were recorded for cheddar cheese (1.5%), low-fat fresh milk (1.5%), and full cream long-life milk (1.7%). Annually, cheddar cheese rose 6.2%, low-fat fresh milk increased 3.5%, and full cream long-life milk grew 2.2%.
The “other food” category accelerated to an annual rate of 4.9%, up from 4.1%. Salt prices surged 2.5% monthly and 9.3% annually. Salad dressing prices climbed 2.3% monthly and 10.0% annually, while mayonnaise rose 2.2% monthly and 8.1% annually.
Non-alcoholic beverages inflation also accelerated to 4.9% from 4.6%. Within this category, the annual rate for Rooibos tea jumped to 7.5% from 5.2%, and Ceylon (black) tea increased to 8.3% from 7.8%.