Food, tobacco take PPI higher

Johannesburg - The producer price index (PPI) for final manufactured goods increased by 0.5% from June to July, Statistics SA said on Thursday.

"The main contributor to the monthly increase of 0.5% was food products, beverages, and tobacco products," it said in a statement.

In July, PPI stood at 8%.

The annual percentage change in the PPI for electricity and water was 7.8% in July, compared to 8.2% in June.

In mining, the annual percentage change in the index was 7.8% in July from 5.8% the previous month.

Stats SA defines PPI as a measure of the change in the price of goods, either as they leave their place of production or as they enter the production process.