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SA's headline PPI quickens to 7%

Johannesburg - South Africa's headline producer inflation accelerated to 7.0 percent year-on-year in January from 6.5 percent in December, Statistics South Africa said on Thursday.

Economists polled by Reuters had predicted PPI would quicken to 6.75 percent.

File picture: Free Images. Credit: FREE IMAGES

Prices at the factory gate rose by 1.0 percent on a month-on-month basis in January compared with 0.5 percent previously, against market forecasts of a 0.8 percent rise.

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

January December

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

Final manufactured goods 7.0 1.0 6.5 0.5

Intermediate manufactured goods 9.3 2.4 8.1 -0.4

Electricity and water 14.5 1.3 14.3 -1.7

Mining and quarrying 4.8 4.9 2.4 -0.8

Agriculture, forestry and fishing 5.6 0.0 4.1 1.5 - Reuters

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