Financial News: South Africa Producer Price Inflation Rises Slightly

South Africa Producer Price Inflation Rises Slightly

04/25/2024 - 08:08:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation rose marginally in March after easing in the previous month, Statistics South Africa reported Thursday.

The producer price index showed an annual increase of 4.6 percent in March, following a 4.5 percent rise in February.

The overall annual inflation in March was largely driven by food products, beverages and tobacco products, coke, petroleum, chemical, rubber, and plastic products, metals, machinery, equipment, and computing equipment.

The producer price index for electricity and water alone grew by 15.6 percent from last year, and that for agriculture, forestry, and fishing rose by 7.7 percent. At the same time, prices for mining dropped 12.7 percent.

On a monthly basis, producer prices moved up 1.1 percent at the end of the first quarter.

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