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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa CPI MoM fell to 0.7% in May 2026
FMPMonthlyReleased June 2026
South Africa CPI MoM fell to 0.7% in May 2026, released June 2026, down 0.4% from April's 1.1% reading.
Latest Release
0.700000
Actual
—
Consensus
1.100000
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 | Co-movement | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → 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 0.7% in June 2026. The reading fell from the previous value of 1.1%. Trailing 12-month context per ETL data through June 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 August 19, 2026. Same-country events in the next 14 days include Unemployment Rate (Aug 11).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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CPI MoM - ZA
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About CPI MoM — South Africa
DEFINITION
South Africa's CPI MoM rose 0.70% in June, up from May's 0.50%, signaling an acceleration in monthly inflation. This increase reverses the prior two-month slowdown from March's 0.70% and April's 0.60%. The stronger inflation reading may influence the South African Reserve Bank's monetary policy stance amid ongoing price pressures. Updated 6/17/26
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 (May 2026): actual 0.7 %. Prior reading (Apr 2026): 0.5 %. Before that (Mar 2026): 0.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary neutral force in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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Economic Calendar - ZA Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:30 | ZA | Producer Price Index MoM | -0.1 | 2.6 | 1.8 | 0.85 | Low |
| 09:30 | ZA | Producer Price Index YoY | 7.5 | 7.8 | 8.2 | 7.85 | Low |
| 12:00 | ZA | Budget Balance | 80.13 | -14.62 | 57 | 68.56 | Low |