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South Africa Producer Price Index MoM climbed to 3.0% in April 2026, released May 2026, up 1.9% from March's 1.1% reading. The print exceeded the 1.6% consensus by 1.4%. Producer Price Index MoM has now risen for 4 consecutive months. Over the past 3 months, Producer Price Index MoM averaged 0.55%, vs 0.0% in the prior 3-month window. Producer Price Index MoM is now the highest in 15 months.
across last 12 releases
May 2026
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▲ Direct | +0.42 | INDEX | Bullish S&P 500 | → View |
| USD/ZAR | ▼ Inverse | −0.36 | FOREX | Bearish USD | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
Producer Price Index MoM (South Africa) was reported at 3% in May 2026. This beat the market consensus of 1.6% by 1.4%. The reading rose from the previous value of 1.1%. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged 0.34%, ranging from -0.3% to 3% across 11 releases.
The indicator has been trending upward over the last three releases. The trailing three releases averaged 0.93%, up from the prior three at 0.03%.
Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500). A secondary relationship exists with USD/ZAR, negatively correlated (Bearish USD). Over the last 12 releases, the Sigmacast model's median absolute error is 0.28%.
The next release is scheduled for June 25, 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.
South Africa's Producer Price Index MoM surged to 3.000000% in May, sharply beating the 1.600000% estimate. This marks a significant acceleration from April's 1.100000%, indicating rising input costs and inflationary pressures. Market participants will closely watch upcoming inflation data and central bank responses amid this sharp increase. Updated 5/28/26
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
Latest reading (Apr 2026): actual 3 %, consensus 1.6 %. Prior reading (Mar 2026): 1.1 %. Before that (Feb 2026): 0 %.
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bullish S&P 500, r=0.42) — a useful reference for index-focused traders.
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| Wednesday, June 17, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | Core Inflation Rate YoY | 3.6 | 4.3 | 4.15 | Low | ||
| 08:00 | Core Inflation Rate MoM | 0.5 | 1.6 | 1.90 | Low | ||
| 08:00 | Inflation Rate MoM | 1.1 | 2 | 2.15 | Medium | ||
| 08:00 | Inflation Rate YoY | 4 | 4.7 | 4.65 | Medium | ||
| 11:00 | Retail Sales YoY | 2.6 | 0.7 | 1.55 | Low | ||
| 11:00 | Retail Sales MoM | 0.1 | -1 | -0.35 | Low | ||
| Thursday, June 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 11:00 | Building Permits YoY | 16.9 | 15 | 21.45 | Low | ||