---
source: Statistics South Africa
url: https://www.statssa.gov.za/publications/P01421/P01421February2026.pdf
document_type: pdf
date_retrieved: 2026-03-26
period: February 2026
parent_publication: Producer Price Index (P0142.1)
indicators_covered: [Producer Price Inflation MoM, Final manufactured goods PPI, Intermediate manufactured goods PPI, Mining PPI, Electricity and water PPI, Agriculture, forestry and fishing PPI]
---

# Producer Price Index (PPI), February 2026

**Embargoed until: 26 March 2026, 11:30**

## Key findings as at February 2026

### Final manufactured goods – headline PPI
Annual producer price inflation (final manufacturing) was **1,8%** in February 2026, compared with 2,2% in January 2026. The producer price index (PPI) **remained unchanged (0,0%) month-on-month** in February 2026.

The main positive contributors to the headline PPI annual inflation rate were food products, beverages and tobacco products (2,3% and contributing 0,7 of a percentage point) and furniture and other manufacturing (12,1% and contributing 0,5 of a percentage point).

### Intermediate manufactured goods
The annual percentage change in the PPI for intermediate manufactured goods was **7,8%** in February 2026, compared with 10,5% in January 2026. The index **decreased by 0,7% month-on-month**.

The main positive contributors to the annual rate were basic and fabricated metals (21,7% and contributing 10,2 percentage points) and sawmilling and wood (8,4% and contributing 0,8 of a percentage point). The main negative contributor to the monthly rate was chemicals, rubber and plastic products (-1,9% and contributing -0,5 of a percentage point).

### Electricity and water
The annual percentage change in the PPI for electricity and water was **15,4%** in February 2026, compared with 16,7% in January 2026. The index **increased by 0,3% month-on-month**.

The contributors to the annual rate were electricity (15,9% and contributing 13,1 percentage points) and water (11,6% and contributing 2,0 percentage points).

### Mining
The annual percentage change in the PPI for mining was **30,3%** in February 2026, compared with 28,4% in January 2026. The index **increased by 3,5% month-on-month**.

The positive contributors to the annual rate were non-ferrous metal ores (57,1% and contributing 24,9 percentage points) and gold and other metal ores (18,8% and contributing 5,3 percentage points). The main positive contributors to the monthly rate were non-ferrous metal ores (6,3% and contributing 3,2 percentage points) and coal and gas (3,7% and contributing 0,6 of a percentage point).

### Agriculture, forestry and fishing
The annual percentage change in the PPI for agriculture, forestry and fishing was **-5,1%** in February 2026, compared with -5,8% in January 2026. The index **decreased by 1,6% month-on-month**.

The negative contributor to the annual rate was agriculture (-7,1% and contributing -6,2 percentage points). The negative contributor to the monthly rate was agriculture (-2,1% and contributing -1,8 percentage points).

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## Key figures and analytical series

### Table A – Key figures
| Product | Weight | Index (Dec 2023=100) Feb 2025 | Index (Dec 2023=100) Jan 2026 | Index (Dec 2023=100) Feb 2026 | % change Feb 2026 vs. Jan 2026 | % change Feb 2026 vs. Feb 2025 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| **Final manufactured goods** | 100,00 | 101,6 | 103,4 | **103,4** | **0,0** | **1,8** |
| Intermediate manufactured goods | 100,00 | 110,1 | 119,5 | 118,7 | -0,7 | 7,8 |
| Electricity and water | 100,00 | 112,4 | 129,3 | 129,7 | 0,3 | 15,4 |
| Mining | 100,00 | 103,3 | 130,1 | 134,6 | 3,5 | 30,3 |
| Agriculture, forestry and fishing | 100,00 | 101,1 | 97,5 | 95,9 | -1,6 | -5,1 |

### Table B – Analytical series
| Product | Weight | Index (Dec 2023=100) Feb 2025 | Index (Dec 2023=100) Jan 2026 | Index (Dec 2023=100) Feb 2026 | % change Feb 2026 vs. Jan 2026 | % change Feb 2026 vs. Feb 2025 |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| Final manufactured goods excluding petroleum products | 88,23 | 103,0 | 105,9 | 106,2 | 0,3 | 3,1 |
| Final manufactured goods excluding food | 82,70 | 100,9 | 102,9 | 102,9 | 0,0 | 2,0 |
| Intermediate manufactured goods excluding basic metals | 79,58 | 112,6 | 125,5 | 124,1 | -1,1 | 10,2 |
| Mining excluding precious metals and stones | 76,51 | 96,5 | 107,1 | 110,4 | 3,1 | 14,4 |
| Precious metals and stones | 23,49 | 126,2 | 204,0 | 211,7 | 3,8 | 67,7 |

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## Main index numbers and annual percentage changes (Dec 2023=100)

### Table C1 – Final manufactured goods
| Year | Jan (Index) | Jan (Rate) | Feb (Index) | Feb (Rate) |
| :--- | :--- | :--- | :--- | :--- |
| 2024 | 100,1 | 4,7 | 100,6 | 4,5 |
| 2025 | 101,2 | 1,1 | 101,6 | 1,0 |
| 2026 | 103,4 | 2,2 | **103,4** | **1,8** |

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## Detailed index numbers and rates of change (Final Manufactured Goods)

| Product | Weight | Feb 2025 Index | Jan 2026 Index | Feb 2026 Index | % MoM | % YoY |
| :--- | :--- | :--- | :--- | :--- | :--- | :--- |
| **Final manufactured goods** | 100,00 | 101,6 | 103,4 | 103,4 | 0,0 | 1,8 |
| Food products, beverages and tobacco products | 29,22 | 104,6 | 106,8 | 107,0 | 0,2 | 2,3 |
| .. Food products | 17,30 | 105,0 | 105,5 | 105,4 | -0,1 | 0,4 |
| .... Meat and meat products | 2,11 | 97,4 | 109,8 | 108,3 | -1,4 | 11,2 |
| .... Dairy products | 1,53 | 104,6 | 103,2 | 106,0 | 2,7 | 1,3 |
| .... Grain mill products | 1,19 | 107,9 | 98,7 | 98,0 | -0,7 | -9,2 |
| .. Beverages | 9,73 | 104,4 | 108,8 | 109,4 | 0,6 | 4,8 |
| .. Tobacco products | 2,19 | 102,0 | 108,3 | 108,3 | 0,0 | 6,2 |
| Coke, petroleum, chemical, rubber and plastic products | 22,69 | 97,3 | 94,8 | 94,0 | -0,8 | -3,4 |
| .. Coal and petroleum products | 12,11 | 93,1 | 86,7 | 84,8 | -2,2 | -8,9 |
| .... Petrol | 4,41 | 95,4 | 86,5 | 83,2 | -3,8 | -12,8 |
| .... Diesel | 4,24 | 92,8 | 83,8 | 81,3 | -3,0 | -12,4 |
| Metals, machinery, equipment and computing equipment | 15,84 | 103,1 | 105,7 | 105,7 | 0,0 | 2,5 |
| Transport equipment | 8,53 | 97,2 | 97,4 | 97,6 | 0,2 | 0,4 |
| Furniture and other manufacturing | 3,99 | 108,7 | 120,4 | 121,9 | 1,2 | 12,1 |

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## Explanatory notes
The Producer Price Index (PPI) measures changes in the prices of locally produced commodities. A sample of producers is surveyed each month. The response rate for February 2026 was 99,5%.