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Financial News: South Africa Producer Price Inflation At 4-1/2-year Low

South Africa Producer Price Inflation At 4-1/2-year Low

11/28/2019 - 06:45:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation eased to the lowest level in four-and-a-half years in October, figures from Statistics South Africa showed on Thursday.

The producer price index climbed 3.0 percent year-on-year in October, following a 4.1 percent increase in September. A similar lower inflation was seen in April 2015.

The main contribution to the inflation came from food products, beverages and tobacco products, and metals, machinery, equipment and computing equipment.

Producer prices for intermediate goods decreased 0.6 percent, while those for electricity and water grew 13.4 percent. Prices in the mining industry registered a 17.7 percent increase.

On a monthly basis, producer prices increased 0.3 percent in October.

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