Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Producer Price Index MoM climbed to 3.0% in April 2026
FMPMonthlyReleased May 2026
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.
Latest Release
3
Actual
1.6
Consensus
1.1
Previous
Median Absolute Error
±0.28 percentage points
across last 12 releases
Last Call
May 2026
Predicted: 1.65
Actual: 3
Error: -1.35
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 |
|---|---|---|---|---|---|
| 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.
THE RELEASE
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.
WHY IT MATTERS
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%.
THE MODEL'S TAKE
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%.
WHAT TO WATCH NEXT
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.
SHARE
Producer Price Index MoM - ZA
Loading chart data...
About Producer Price Index MoM — South Africa
DEFINITION
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
WHY THIS INDICATOR MATTERS
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.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 3 %, consensus 1.6 %. Prior reading (Mar 2026): 1.1 %. Before that (Feb 2026): 0 %.
WHAT'S NEXT
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.