Financial News: South Africa PPI Inflation Eases To 13-Month Low

South Africa PPI Inflation Eases To 13-Month Low

09/26/2024 - 09:57:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation moderated further in August to the lowest level in just over a year, Statistics South Africa reported Thursday.

The producer price index logged an annual growth of 2.8 percent in August, slower than the 4.2 percent gain a month ago.

Further, this was the lowest inflation rate since July 2023, when prices had risen 2.1 percent.

The annual price growth in electricity and water eased to 7.1 percent from 10.2 percent in July, while mining prices declined by 1.7 percent. Prices for intermediate manufactured goods grew at a stable rate of 4.2 percent.

Month-on-month, producer prices declined 0.3 percent in August.

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