South Africa’s inflation fell to 3.0% in February 2026, driven by lower fuel and food prices and delayed medical cost increases.

South Africa’s annual consumer inflation dropped to 3.0% in February 2026, down from 3.5% in January, driven by lower fuel prices, delayed medical aid increases, and softer food inflation. Fuel prices fell 10.1% annually, food inflation eased to 3.7%, and health insurance rose 6.4%—well below last year’s 10.5%. The decline, the lowest in over two decades, kept inflation within the central bank’s 1%-3% target range, supporting expectations of a pause in interest rate adjustments.