South Africa's Inflation Hits Two-Year High as Fuel Costs Surge Amid Middle East Tensions
CAPE TOWN-South Africa's annual consumer inflation accelerated to 5.0% in June 2026, up from 4.5% in May, marking the highest reading since June 2024 . In my opinion, this number is a fairly clean illustration of how little control a country like South Africa actually has over its own cost of living. A woman uses a trolley as she shops at a Pick n Pay store at the Dobson Point Shopping Centre, in Soweto, South Africa, March 19, 2024. Fuel Is Doing Most of the Damage Statistics South Africa said transport was by far the biggest driver of the increase, with the annual transport inflation rate accelerating to 12.7% in June from 9.4% in May. Fuel prices themselves climbed 34.3% over the past year, driven by a 50.8% jump in diesel prices and a 31.7% rise in petrol prices . From my perspective, that surge into passenger transport inflation, up 8.1% in June alone, is the part of this story that matters most, since minibus taxi fares jumped 11.5% and that's the mode of transport mos...