Namibia's annual inflation rate quickened to 5.4 percent in August from 5.1 percent in July, largely driven by rising food and transport costs, official data showed on Monday.

The monthly consumer inflation rate rose by 0.1 percent, slowing from 0.7 percent in July, the Central Bureau of Statistics said in a statement.

Inflation has been rising steadily in Namibia, where the local dollar is pegged to the rand of South Africa, the region's dominant economy which is also experiencing rising costs fanned partly by high international crude oil prices.

Namibia's year-on-year inflation rate for food and non-alcoholic beverages was 6.5 percent, while annualised transport costs rose by 10.2 percent.