Financial News: South Africa's PPI Inflation Stable At 4.6%

South Africa's PPI Inflation Stable At 4.6%

07/25/2024 - 06:19:00 (RTTNews)

(RTTNews) - South Africa's producer price inflation remained steady in June after easing in the previous month, Statistics South Africa reported Thursday.

The producer price index showed an annual increase of percent in June, the same as in May.

The rise in overall annual inflation in April was largely driven by coke, petroleum, chemicals, rubber and plastic products, food products, beverages and tobacco products, metals, machinery, equipment, and computing equipment.

The producer price index for electricity and water alone grew by 9.2 percent from last year, and that for agriculture, forestry, and fishing rose by 9.0 percent. At the same time, prices for mining dropped 4.0 percent.

On a monthly basis, producer prices dropped 0.3 percent in June.

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