SA's inflation slows to 3,5% in January

Annual headline inflation slowed to 3,5% in January from 3,6% at the end of last year.

The print is marginally higher than market expectations.

Statistics South Africa (Stats SA) released the latest price figures on Wednesday. 

The dip in inflation puts the reading back at November 2025 levels.

Chief Director for Price Statistics at Stats SA, Patrick Kelly, said the downward pressure is thanks to a sharp decline in fuel prices, while food inflation was steady for the third consecutive month.

"The monthly change in the CPI was 0,2%, the same as December's reading," Kelly said.

In the food category, Kelly said cereal products slowed significantly.

"White rice recorded a drop of 11%, representing an eleventh consecutive month of deflation. Maize meal inflation declined notably from 9,5% in December to 2,6% in January. Inflation for oils and fats softened to 4% from 4,6% in December."