FX.co ★ South Africa PPI Inflation Slows to 5-Month Low

South Africa’s producer price inflation eased to 2.2% in January 2026, the lowest level since August of the previous year and down from the 2.9% recorded in each of the three preceding months, when it had reached a more-than-one-year high. The deceleration was driven mainly by lower fuel costs, with petrol prices declining 5.3% and gasoline prices falling 4.8%. Prices for transport equipment also edged lower (-0.2% vs 1.6% previously). At the same time, price growth slowed for food products, beverages, and tobacco, rising 2.4% compared with 2.9% earlier. On a monthly basis, producer prices fell 0.2% in January, reversing a 0.2% increase in the prior month.