Africa-Press – Eswatini. Eswatini’s annual inflation rate rose slightly to 2.9% in October 2025, up from 2.8% recorded in September, according to the latest Consumer Price Index (CPI) update released by the Central Statistical Office (CSO).
Although the increase is marginal, the figure remains notably lower than the 3.3% recorded in October 2024, signalling continued stability despite pressure from specific consumer categories.
The monthly inflation rate also showed movement, climbing by 0.4% compared to the 0.0% month-on-month change observed in September. Economists consider the October uptick consistent with mild seasonal trends, though certain categories registered sharper increases than others.
Housing and utilities emerged as the biggest contributor to the overall inflation rate, accounting for 1.2 percentage points of the headline figure. This category typically carries significant weight in the CPI basket due to its essential nature, and the latest numbers suggest continuing pressure on household budgets. Analysts note that incremental rises in electricity tariffs and maintenance costs have played a role in sustaining upward momentum within this sector.
The second-largest driver was the alcoholic beverages, tobacco and narcotics category, contributing 0.7 percentage points to the headline number. This sector also recorded one of the most striking year-on-year increases, with prices rising by 13.8% compared to October 2024. The CSO attributes this surge largely to substantial price hikes in spirits and beer, which continue to influence overall goods inflation.
Goods inflation for October stood at 3.3%, higher than the headline rate, reflecting the influence of commodity-linked sectors and imported goods. By contrast, services inflation remained lower at 2.3%, suggesting that price pressures in service-based industries were more contained.
Clothing and footwear added a further 0.3 percentage points to the headline rate, supported by a 5.7% year-on-year increase. Retailers have pointed to rising input costs and import expenses as key factors driving the trend, with global textile prices having fluctuated over the past year.
Despite the upward movements in several categories, the Restaurants and Hotels sector recorded a notable decline of 4.2% year-on-year. The CSO attributes this to reduced accommodation costs, which have remained lower as operators adjust pricing strategies in response to softer demand. This decline helped offset some of the upward pressure seen in other parts of the CPI basket.
The Health category registered a moderate annual increase of 3.5%, reflecting slower price growth in medical services and pharmaceutical products. Although health-related costs continue to rise, the pace has eased compared to previous periods, providing some relief to households facing broader cost-of-living pressures.
Economists observe that the overall inflation outlook remains broadly stable, with the latest figures suggesting that Eswatini continues to experience moderate and manageable price changes across most categories. While key goods categories—particularly alcohol and housing—continue to exert influence, the country’s inflation levels remain within a range considered comfortable for economic planning.
The CSO has confirmed upcoming CPI releases scheduled for 15 December 2025, 15 January 2026 and 16 February 2026. These updates will help track whether the upward trend recorded in October is temporary or indicative of more persistent price pressures heading into 2026.
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