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Producer inflation slows to 8%

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.

File picture: Free Images. Credit: FREE IMAGES

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.

July June

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

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