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PPI slows more than expected

Sep 25 2014 13:12
Reuters, Sapa
Johannesburg - South Africa's producer price inflation (PPI) slowed more than expected to 7.2% year-on-year (y/y) in August, from 8% in July, Statistics SA said on Thursday.

Economists had expected PPI to slow to 7.7% y/y.

On a month-on-month basis PPI was at 0.0% from 0.5% and against market expectations for 0.4%.

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

"The main contributors to the annual rate of 7.2% were food products, beverages and tobacco products," the organisation said in a statement.

The annual percentage change in the PPI for electricity and water was 8.6% in August 2014 - compared with 7.8% in July 2014.

In mining, the annual percentage change in the PPI was 3.6%, compared with 7.8% in July this year.

The annual percentage change in the PPI for agriculture, forestry and fishing was 4.2% in August 2014 compared to 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.

 - Reuters, Sapa

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ppi  |  sa economy

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