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Financial News: South Africa Producer Price Inflation At 5-Month Low

South Africa Producer Price Inflation At 5-Month Low

08/29/2019 - 07:31:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation eased to the lowest level in five months in July, figures from Statistics South Africa showed on Thursday.

The producer price index climbed 4.9 percent year-on-year in July, following a 5.8 percent rise in June.

The latest inflation was the slowest since February, when it was 4.7 percent.

The main contribution came from food products, beverages and tobacco products, coke, petroleum, chemical, rubber and plastic products, and metals, machinery, equipment and computing equipment.

On a monthly basis, producer prices declined 0.2 percent in July.

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