FX.co ★ South Africa's Core CPI Holds Steady at 3.0% in May

South Africa's Core Consumer Price Index (CPI) showed no change in May, maintaining a 3.0% rate for the second consecutive month, according to data updated on June 18, 2025. This stability reflects consistent year-over-year inflation from the previous month of April.

The Core CPI, which excludes volatile food and energy prices, is a key measure of underlying inflation trends. In May, the figure remained consistent with April's rate, suggesting that South Africa's core inflation pressures are stable when compared to the same period in 2024.

The unchanged Core CPI may provide the South African Reserve Bank with crucial insights as it formulates monetary policy. The stability in core inflation could imply a balanced economic environment, which may affect future policy decisions concerning interest rates and economic growth strategies. As inflation remains within the targeted range, South African economists and policymakers will likely continue to monitor global economic conditions that could influence domestic price levels.