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Financial News: South Africa Producer Price Inflation Eases In April

South Africa Producer Price Inflation Eases In April

06/25/2020 - 09:06:00 (RTTNews)

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

The producer price index rose 1.2 percent year-on-year in April, after a 3.3 percent increase in March.

The main contribution for the increase in prices came from food products, beverages and tobacco products, and transport equipment in April.

Producer prices for mining industry grew 43.9 percent annually in April and prices for electricity and water increased 15.5 percent.

Prices for agriculture, forestry and fishing and, intermediate goods rose by 3.5 percent and 1.3 percent, respectively.

On a monthly basis, producer prices fell 0.7 percent in April.

Separate data from the statistical office showed that the wholesale sales declined 5.5 percent yearly in March, after a 1.4 percent increase in February.

On a monthly basis, wholesale sales fell a seasonally adjusted 2.2 percent in March, following a 1.0 percent decrease in the previous month.

For the three months ended in March, wholesale sales fell 1.4 percent following a 1.9 percent decrease in the previous three months ended February.

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