JOHANNESBURG, - South Africa's headline year-on-year producer inflation, represented by final manufactured goods, eased sharply to 4.2 percent in February from 5.1 percent in January, the statistics department said on Thursday.
From January 2018 to February 2018, the producer price index (PPI) for final manufactured goods decreased by 0.3 percent, Statistics South Africa said.
The main contributors to the annual rate were coke, petroleum, chemical, rubber and plastic products. The same products were the main contributors to the month-on-price decrease in producer prices.
The annual percentage change in the PPI for intermediate manufactured goods was 0.4 percent in February compared with 1.5 percent in January, while that for electricity and water was 3.5 percent from 3.0 percent, mining was -4.3 percent from -0.1 percent and the change for agriculture, forestry and fishing was 5.7 percent from 8.7 percent.
The producer price index measures changes in the prices of locally produced commodities.
A sample of producers is surveyed each month and the results are used to compile the producer price indices for final manufactured goods, intermediate manufactured goods, electricity and water, mining, and agriculture, forestry and fishing.
- African News Agency (ANA)