Annual consumer price inflation rose to 4.5% in September from 4.4% in August, Statistics South Africa (Stats SA) said on Wednesday. Prices rose 0.4% on the month.
Fuel was the biggest mover. Stats SA’s index for fuel stood 6.2% above its August level and 27.9% above September 2025. Transport as a whole cost 10.8% more than a year ago and contributed 1.5 percentage points to the 4.5%, up from 1.2 points in August.
Goods up, services down
Goods inflation rose to 4.1% from 3.3% in August, while services inflation eased to 4.9% from 5.1%. Housing and utilities, at 5.2%, contributed 1.3 percentage points, and insurance and financial services, at 5.4%, contributed 0.6 of a point.
Administered prices, which are set or significantly influenced by the government, rose 13.0% over the year. Excluding fuel and paraffin, that group’s inflation was 7.0%. Electricity, gas and other fuels cost 7.9% more than in September 2025, and water supply and related services 7.4% more.
Food and non-alcoholic beverages rose 1.2% over the year, with food alone up 1.0%. Meat prices were 0.7% higher than a year ago, and fish and other seafood 8.0% higher. Vegetables fell 1.6% from August, and processed food fell 0.4%. Cereal products were 1.9% cheaper than a year ago.
Source: Statistics South Africa, Consumer Price Index P0141, September 2026 (Table B2). Chart: Rand Desk
Core measures
Stats SA’s trimmed mean was 3.2% for the year. Inflation excluding food, non-alcoholic beverages, fuel and energy was 4.0%. Excluding fuel only, the rate was 3.6%.
By province, the Western Cape had the highest annual rate at 5.5% and Limpopo the lowest at 3.0%. Gauteng, with the largest weight in the index at 35.87%, was at 4.3%. KwaZulu-Natal and Mpumalanga were both at 4.0%, and the Eastern Cape was at 4.7%.
Rent and owners’ equivalent rent are surveyed only in March, June, September and December, so September’s reading includes new figures for both. Actual rentals rose 0.8% in the month and owners’ equivalent rent 0.9%, against annual rises of 3.9% and 3.8%.
A rise since March
Inflation was 3.1% in March and has been between 4.0% and 5.0% in every month since, peaking at 5.0% in June. A year earlier it was between 2.7% and 3.5%.
The fuel price rises fed into September’s figure. Early data points to another petrol rise in November, which the November inflation figures would show.
Stats SA publishes the October figures on 18 November. The Reserve Bank’s interest rate decision follows on 19 November.
