FX.co ★ South Africa’s Core CPI Eases to 0.5% in July, Signalling Slight Cooling in Price Pressures

South Africa’s core consumer price index (CPI) growth slowed marginally in July 2026, easing to 0.5% month-over-month from 0.6% in June 2026, according to data updated on 19 August 2026. The month-over-month measure compares price changes in July with those in June, while the June figure reflected the change from May.

The moderation suggests a slight cooling in underlying inflation pressures, with core CPI excluding more volatile components to give a clearer view of persistent price trends. While the shift from 0.6% to 0.5% is modest, it may be closely watched by markets and policymakers as they assess the trajectory of inflation and the potential implications for future monetary policy decisions.