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Financial News: South Africa PPI Inflation At 6-Month High

South Africa PPI Inflation At 6-Month High

10/26/2017 - 05:48:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation accelerated at a faster-than-expected pace in September to the highest level in six months, figures from Statistics South Africa showed Thursday.

Producer prices for manufactured goods climbed 5.2 percent year-over-year in September, faster than the 4.2 percent increase in August. Economists had expected the PPI inflation to rise to 4.9 percent.

Moreover, the latest rate of growth was the sharpest since March, when prices had risen the same 5.2 percent.

The price index for mining increased the most by 9.5 percent annually in September, followed by electricity and water with 6.0 percent spike.

On a monthly basis, producer prices went up 0.7 percent in September, faster than the expected gain of 0.4 percent.

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