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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa CPI MoM climbed to 1.1% in April 2026
FMPMonthlyReleased May 2026
South Africa CPI MoM climbed to 1.1% in April 2026, released May 2026, up 0.5% from March's 0.6% reading.
Latest Release
1.100000
Actual
—
Consensus
0.600000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI MoM (South Africa) was reported at 1.1% in May 2026. The reading rose from the previous value of 0.6%. Trailing 12-month context per ETL data through May 2026.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
The next release is scheduled for June 17, 2026. Same-country events in the next 14 days include Inflation Rate MoM (Jun 17) and Inflation Rate YoY (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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CPI MoM - ZA
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About CPI MoM — South Africa
DEFINITION
South Africa's CPI MoM for May registered 0.500000%, down from April's 0.600000%, indicating a deceleration in monthly inflation. This marks a continued slowdown from March's 0.700000%, reflecting easing price pressures. Market participants will watch upcoming data for further inflation trends amid stable monetary policy. Updated 5/20/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 0.5 %. Prior reading (Mar 2026): 0.6 %. Before that (Feb 2026): 0.7 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print. Current dynamics are the primary headwind in the projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.