South Africa Inflation Rises to 4.5 Percent in September

Statistics South Africa reported that consumer price inflation rose to 4.5 percent year-on-year in September, the highest level seen in three months. While the figure represents an increase from the 4.4 percent recorded in August, it remained lower than the 4.7 percent forecast by economists.

The rise was primarily driven by a 10.8 percent surge in transport costs, which was fueled by a 27.9 percent jump in fuel prices. Other contributing factors included a 5.2 percent increase in housing and utility costs and a 4.4 percent rise in restaurant and accommodation services. On a monthly basis, consumer prices increased by 0.4 percent.

In contrast to the headline figure, core inflation eased to 4.0 percent from 4.1 percent. Core inflation excludes volatile items such as food, non-alcoholic beverages, fuel, and energy.