South Africa’s core consumer price index (CPI) edged higher in July 2026, rising to 4.2% year-over-year, according to data updated on 19 August 2026. This marks a slight increase from June 2026, when core CPI stood at 4.1% year-over-year.
The figures measure inflation excluding volatile components and compare price changes in each month with the same month a year earlier. The July reading suggests a modest firming in underlying inflation pressures, with the pace of core price growth moving just above June’s level while remaining relatively contained on an annual basis. Investors and policymakers will be watching subsequent releases closely to gauge whether this uptick develops into a more persistent trend.