South Africa’s core consumer price inflation picked up slightly in March 2026, rising to 3.2% year-over-year from 3.0% in February, based on data updated on 22 April 2026. The indicator measures price changes excluding more volatile items, and compares March 2026 levels to those of March 2025, while the February reading was measured against February 2025.
The modest uptick suggests a gentle firming in underlying price pressures, rather than a sharp acceleration. While core inflation remains relatively contained, the move from 3.0% to 3.2% may attract closer attention from market participants tracking the trajectory of South Africa’s inflation dynamics and its potential implications for future economic conditions.