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Financial News: South Africa Producer Price Inflation At 3-Month High

South Africa Producer Price Inflation At 3-Month High

01/30/2020 - 06:53:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation was the highest in three months in December, figures from Statistics South Africa showed on Thursday.

The producer price index rose 3.4 percent year-on-year in December, following a 2.3 percent increase in November.

The latest inflation was the highest since September, when it was 4.1 percent.

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

Producer prices for mining industry increased 24.2 percent annually in December, and those of electricity and water rose 13.8 percent.

Meanwhile, prices for intermediate goods and agriculture, forestry and fishing declined 1.5 percent and 0.6 percent, respectively.

On a monthly basis, producer prices decreased 1.7 percent in December.

In 2019, producer price inflation was an average 4.6 percent versus 5.5 percent in the previous year.

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