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Financial News: South Africa Producer Price Inflation Rises For Second

South Africa Producer Price Inflation Rises For Second Month

08/27/2020 - 07:01:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation rose for the second month in a row in July, figures from Statistics South Africa showed on Thursday.

The producer price index rose 1.9 percent year-on-year in July, following a 0.5 percent increase in June.

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

Producer prices for mining industry grew accelerated 29.6 percent annually in July and prices for electricity and water increased 8.1 percent.

Prices for agriculture, forestry and fishing and, intermediate goods rose by 2.5 percent and 2.4 percent, respectively.

On a monthly basis, producer prices increased 1.2 percent in July.

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