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Financial News: South Africa Producer Price Inflation Slows In May

South Africa Producer Price Inflation Slows In May

07/16/2020 - 06:32:00 (RTTNews)

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

The producer price index rose 0.4 percent year-on-year in May, after a 1.2 percent increase in April.

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

Producer prices for mining industry grew 28.2 percent annually in May and prices for electricity and water increased 14.0 percent.

Prices for agriculture, forestry and fishing and, intermediate goods rose by 2.8 percent and 1.7 percent, respectively.

On a monthly basis, producer prices fell 0.3 percent in May.

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