28.05.202609:30:00UTC+00South Africa’s Producer Inflation More Than Doubles in April, PPI Jumps to 4.8% YoY

South Africa’s producer price inflation accelerated sharply in April 2026, with the Producer Price Index (PPI) climbing to 4.8% year-over-year, up from 2.3% in March 2026. The latest figures, updated on 28 May 2026, show that factory-gate inflation has more than doubled in just one month on an annual comparison basis.

The data are measured on a year-over-year basis, meaning April’s 4.8% reading reflects the change in producer prices compared with April a year earlier, while March’s 2.3% figure compares prices to March of the previous year. The strong upward move suggests increasing cost pressures at the producer level, which could eventually filter through to consumer prices and influence monetary and fiscal policy discussions.

The jump in PPI will likely draw close attention from investors and policymakers, as it may signal emerging inflationary trends in the broader South African economy and could have implications for interest rate expectations and corporate margins in the months ahead.