FX.co ★ South Africa’s Core CPI Quickens in February, Signalling Firmer Underlying Price Pressures

South Africa’s core consumer price index (CPI) accelerated in February 2026, underscoring a pickup in underlying inflationary pressures. Month-over-month, core CPI rose 0.7% in February, more than doubling the 0.3% increase recorded in January 2026.

The latest data, updated on 18 March 2026, show that core inflation—stripped of more volatile components—has gained momentum compared with the previous month, when price growth was comparatively subdued. On a month-over-month basis, the February reading represents a stronger pace of price increases than seen at the start of the year, potentially sharpening focus on inflation trends among market participants and policymakers tracking the trajectory of underlying price dynamics in South Africa.