Producer inflation slows to 8%Comment on this story
Johannesburg - South Africa's headline producer inflation slowed to 8 percent year-on-year in July from 8.1 percent in June, Statistics South Africa said on Thursday.
Economists polled by Reuters had forecast PPI would brake to 7.9 percent year-on-year.
However on a month-on-month basis, factory gate prices rose by 0.5 percent in July from 0.3 percent in June, against market expectations for a flat reading of 0.3 percent.
Stats S.A. releases five industry-specific producer price indices, with final manufactured goods representing the headline number.
y/y m/m y/y m/m
Final manufactured goods 8.0 0.5 8.1 0.3
Intermediate manufactured goods 8.5 0.2 9.0 0.2
Electricity and water 7.8 9.0 8.2 32.9
Mining and quarrying 7.8 1.0 5.8 1.4
Agriculture, forestry and fishing 3.9 -0.6 4.5 -2.2 - Reuters