Consumer price inflation in South Africa increased for a second month in a row, reaching 4.5% in September, Statistics South Africa (Stats SA) announced on Wednesday.

The figure rose from 4.4% in August and 4.3% in July, showing a steady climb in the cost of living for South Africans.

Stats SA said the index jumped 0.4% between August and September, compared to no change recorded between July and August.

Transport costs drove the inflation increase, rising 10.8% year-on-year and adding 1.5 percentage points to the overall rate. Housing and utilities climbed 5.2%, contributing 1.3 percentage points, while insurance and financial services went up 5.4%, adding 0.6 of a percentage point.

Nedbank had predicted a higher inflation figure of 4.8% for September in its Weekly Monitor economic commentary dated 17 October.

The bank said higher transport costs from rising fuel prices would be the main driver. Petrol prices rose 5.3% month-on-month after global oil prices jumped about 14.1% and the rand weakened against the US dollar by about 1.7%.

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“Consequently, fuel inflation is expected to rise from 20% to around 27%,” Nedbank said.

The bank added that food inflation would continue its moderate increase from a low base. Core inflation was also expected to firm, rising from 4.0% to 4.4%, as the indirect effects of higher fuel costs filter through to a broader range of goods and services.

Stats SA released the data hours before Finance Minister Enoch Godongwana was due to table the Medium-Term Budget Policy Statement in Parliament on Wednesday afternoon.

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