30.04.202609:30:00UTC+00South Africa’s Producer Inflation Ticks Up to 2.3% in March, Easing Further From Lows

South Africa’s Producer Price Index (PPI) inflation accelerated to 2.3% year-over-year in March 2026, up from 1.8% in February 2026, according to data updated on 30 April 2026. The figures compare price changes in each month to the same month a year earlier.

The move from 1.8% to 2.3% suggests a modest firming in pipeline inflation pressures at the factory gate, after a period of relatively subdued producer price growth. While still indicating a relatively low inflation environment on the production side, the upward shift in March will be closely watched for any signs that cost pressures could start feeding through to consumer prices in the coming months.

The latest reading underscores the gradual change in producer dynamics in early 2026, with the March data confirming that February’s 1.8% year-over-year increase marked a near-term low point rather than a new trend towards weaker producer inflation.