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Financial News: South Africa Producer Price Inflation Slows In February

South Africa Producer Price Inflation Slows In February

03/26/2020 - 05:43:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation eased in February, figures from Statistics South Africa showed on Thursday.

The producer price index rose 4.5 percent year-on-year in February, after a 4.5 percent increase in January.

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

Producer prices for mining industry increased 49.0 percent annually in February, and those of electricity and water, and intermediate goods rose by 12.1 percent and 1.8 percent, respectively.

Meanwhile, prices for agriculture, forestry and fishing declined 1.1 percent.

On a monthly basis, producer prices rose 0.3 percent in February.

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