Official data revealed that inflation in South Africa increased for the second consecutive month in September, primarily due to elevated fuel prices, following a prior period of moderation.
The national statistics agency, StatsSA, reported that annual consumer price inflation escalated to 5.4 percent last month, a surge from the 4.8 percent recorded in August.
“This brings the rate to the same level as June this year,” the agency said.
“The transport category –- mainly influenced by fuel –- exerted strong upward pressure,” it added.
Between August and September, fuel prices surged by 7.6 percent, with the price of 95-octane petrol in specific regions hitting a 13-month peak.
Oil prices have experienced a global upswing in recent months, primarily due to supply reductions enacted by Saudi Arabia and Russia.
The Israel-Hamas conflict has raised concerns about the potential for it to escalate into a regional war.
In South Africa, there was a slight uptick in food prices, resulting in a food inflation rate of 8.1 percent.
The central bank has established an inflation target ranging from three to six percent and maintained its primary interest rate at 8.25 percent last month.