Fuel prices push annual inflation higher in September

Annual consumer price inflation increased from 4.4% in August to 4.5% in September, Statistics South Africa announced on Wednesday.

Chief director for price statistics, Patrick Kelly, said annual inflation for food and non-alcoholic beverages rose for the second consecutive month, reaching 1.2% in September.

The announcement came as South Africans awaited the Medium-Term Budget Policy Statement, which Finance Minister Enoch Godongwana was due to deliver in Parliament later on Wednesday.

Kelly said meat inflation eased to 0.7% in September from 1.5% in August, marking the lowest annual rate since March 2025, when it stood at 0.4%.

"Beef products are cheaper than a year ago, with price decreases recorded for stewing beef, down 7.2%, beef mince, down 4.6%, beef steak, down 4.4%, and beef offal, down 0.4%," said Kelly.

He said the transport sector's contribution to headline inflation began increasing in April and accounted for about a third of overall inflation in September.

Kelly added that higher fuel prices were a key driver of transport inflation.

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"The fuel price index jumped by 6.2% between August and September, and by 27.9% over the past 12 months.

"Diesel is 46% more expensive than a year ago, while petrol prices have increased by 25% over the same period. The higher fuel prices have a knock-on effect on passenger transport and courier services."

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