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Financial News: South Africa Producer Price Inflation Rises In June

South Africa Producer Price Inflation Rises In June

07/30/2020 - 07:25:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation rose in June after easing in the previous month, figures from Statistics South Africa showed on Thursday.

The producer price index rose 0.5 percent year-on-year in June, after a 0.4 percent increase in May. In April, producer prices rose 1.2 percent.

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

Producer prices for mining industry grew 26.0 percent annually in June and prices for electricity and water increased 13.8 percent.

Prices for agriculture, forestry and fishing and, intermediate goods rose by 1.1 percent and 1.4 percent, respectively.

On a monthly basis, producer prices increased 0.5 percent in June.

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