South Africa’s producer price inflation rose to the highest in six months in September, figures from Statistics South Africa showed on Thursday.
The producer price index rose 2.5 percent year-on-year in September, following a 2.4 percent increase in August. This was in line with economists’ expectation.
Prices rose at the fastest pace since March, when it was 3.3 percent.
The main contribution for the increase in prices came from food products, beverages and tobacco products, and transport equipment in September.
Producer prices for mining industry grew 36.4 percent annually in October and prices for electricity and water increased 4.3 percent.
Prices for agriculture, forestry and fishing, and intermediate goods rose by 8.1 percent and 3.0 percent, respectively.
On a monthly basis, producer prices increased 0.3 percent in September, in line with economists’ expectation.
The material has been provided by InstaForex Company – www.instaforex.com
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