A sharp increase in fuel prices has significantly weakened consumer sentiment in South Africa, pushing confidence to its lowest level in more than a year.
The latest Bureau for Economic Research (BER) and First National Bank (FNB) Consumer Confidence Index fell sharply to minus-19 in the second quarter of 2026, reflecting growing pressure on household finances.
The downturn has largely been attributed to rising global oil prices, which surged after geopolitical tensions and conflict in the Middle East disrupted international energy markets.
The increase in petrol costs, combined with elevated borrowing expenses, has placed additional strain on households particularly affecting higher-income earners who have seen their disposable income tighten.
The Bureau for Economic Research and First National Bank index is widely regarded as a key measure of consumer sentiment and economic outlook in the country.
Economists warn that the decline in confidence could weigh on consumer spending in the months ahead, potentially slowing broader economic growth if fuel and financial pressures persist.