Producer inflation slows to 8.1%

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Johannesburg - South Africa's headline producer inflation slowed to 8.1 percent year-on-year in June from 8.7 percent in May, Statistics South Africa said on Thursday.

Economists polled by Reuters had forecast PPI would only slow to 8.4 percent year-on-year.

On a month-on-month basis, factory gate prices rose by 0.3 percent in June from 0.2 percent in May, against market expectations for 0.5 percent.

Stats South Africa releases five industry-specific producer price indices, with final manufactured goods representing the headline number.

June May

y/y m/m y/y m/m

Final manufactured goods 8.1 0.3 8.7 0.2

Intermediate manufactured goods 9.0 0.2 9.8 0.5

Electricity and water 8.2 32.9 9.7 1.4

Mining and quarrying 5.8 1.4 4.9 -0.3

Agriculture, forestry and fishing 4.5 -2.2 6.7 -1.0 - Reuters

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