Mbabane — The Central Statistical Office (CSO) has reported that Eswatini’s headline inflation rate for November 2025 fell to 2.4 percent, down from 2.9 percent in October and 3.7 percent in November 2024. The rate for goods stood at 2.5 percent and services at 2.4 percent. Month-on-month inflation was flat at 0.0 percent, a decrease from October’s 0.4 percent.
Annual figures reveal significant shifts across major categories. Restaurants and hotels recorded a sharp drop in inflation from 29.4 percent in November 2024 to minus 5.2 percent, largely due to negative growth in accommodation services and “restaurants and cafes.” Alcoholic beverages, tobacco, and narcotics slowed from 12.2 percent to 4.3 percent, with beer and wine showing smaller price increases. Food and non-alcoholic beverages remained unchanged at 0.0 percent, as slower growth in mineral waters, soft drinks, fruit and vegetable juices, milk, cheese, eggs, and negative growth in bread and cereals offset price rises in other items.
Month-on-month data indicate mixed movements. Restaurants and hotels improved slightly from minus 4.1 percent in October to minus 0.7 percent, driven by growth in accommodation services. Alcoholic beverages, tobacco, and narcotics declined from 3.0 percent to minus 0.3 percent, reflecting stable spirits prices. Furnishing, household equipment, and routine household maintenance increased from minus 0.2 percent to 0.5 percent, primarily due to higher prices in small electric household appliances and small tools.
Housing and utilities, clothing and footwear, and education were the largest contributors to the headline inflation, adding 1.2 percent, 0.4 percent, and 0.3 percent respectively. The housing and utilities category includes actual rentals for housing, maintenance and repair materials, water supply, electricity, gas, and other fuels, which experienced varying increases; water supply rose 8.2 percent, electricity 6.9 percent, liquid fuels 3.5 percent, while solid fuels declined slightly by 0.8 percent. Clothing and footwear increased 6.9 percent, with garments up 6.6 percent and shoes 7.6 percent. Education grew by 4.7 percent, with pre-primary and primary education rising 9.5 percent and secondary education 5.5 percent.
Other notable changes included:
- Food and non-alcoholic beverages: bread and cereals dropped 1.9 percent, meat up 1.6 percent, fish and seafood down 0.2 percent, milk, cheese, and eggs up 2.7 percent, oils and fats up 1.5 percent, fruit up 6.5 percent, vegetables down 1.3 percent, sugar, jam, honey, and chocolate up 2.1 percent. Coffee, tea, and cocoa surged 8.0 percent. Mineral waters, soft drinks, fruit, and vegetable juices fell 0.2 percent.
- Alcoholic beverages and tobacco: spirits rose 22.2 percent, wine up 2.9 percent, beer 0.4 percent, tobacco 7.5 percent.
- Transport: fuels and lubricants for personal transport down 1.6 percent, operation of vehicles up 1.8 percent, passenger air transport up 7.1 percent, passenger road transport unchanged.
- Communication: telephone and telefax equipment up 9.5 percent, while services fell 0.4 percent.
- Recreation and culture: information processing equipment up 14.2 percent, audiovisual equipment 7.0 percent, musical instruments 9.0 percent, other recreational items up 2.8 percent, cultural services up 14.0 percent.
- Miscellaneous goods and services: insurance increased 11.7 percent, other services up 5.7 percent, personal care items up 1.9 percent.
The CPI, compiled for over 50 years, tracks changes in the general price level of consumer goods and services across Eswatini. It informs national economic policy, wage and salary adjustments, inflation targeting, and deflation of national accounts. Price data are collected from retail outlets and service providers across the country during the first three weeks of each month. The CSO uses the Laspeyres index formula with June 2020 as the reference period.
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