South Africa inflation edges up: official data

South African consumer prices ticked up a tenth of a percentage point to 5.4 percent in December, official data showed on Wednesday.

Statistics South Africa reported a rise in petrol and home rental prices helped push inflation slightly higher, although broadly in line with expectations.

The average annual inflation rate for 2013 was 5.7 percent.

That is just shy of the South African Reserve Bank’s upper target range of six percent, but will raise hopes that inflation has topped out.