Annual consumer price inflation increased at a faster rate of 4.5% in January, compared to 4% in December, according to data released on Wednesday. The rate was buoyed by increases in the price of fuel, food and utilities. Housing and utilities notably contributed 1.2 percentage points, and transport costs 0.9%, according to Statistics South Africa. Economists noted that despite inflation picking up pace in January, the increase was still at the halfway mark of the target range set by the South African Reserve Bank.
