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Financial News: South Africa Producer Price Inflation Highest Since Dec.

South Africa Producer Price Inflation Highest Since Dec. 2016

09/27/2018 - 05:53:00 (RTTNews)

(RTTNews) - South Africa's producer prices rose at the fastest pace in over two-and-a-half years in August, preliminary data from Statistics South Africa showed Thursday.

The producer price index for manufactured goods rose 6.3 percent year-on-year following a 6.1 percent increase in the previous month.

The main contributors to the annual inflation rate were coke, petroleum, chemical, rubber and plastic products, and transport equipment.

Compared to July, the producer prices grew 0.6 percent. Food, beverages and tobacco products was the main contributor to the monthly increase.

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