South Africa PPI Inflation Slows More Than Forecast

(RTTNews) - South Africa's producer price inflation eased more-than-expected in August, figures from Statistics South Africa showed on Thursday.

Producer prices surged 16.6 percent year-on-year in August, slower than July's 18.0 percent increase. Economists had expected inflation to ease slightly to 17.7 percent.

The main contribution to the annual increase came from coke, petroleum, chemical, rubber and plastic products, food products, beverages and tobacco products, metals, machinery, equipment and computing equipment, and paper and printed products.

Prices in the mining sector grew the most, by 17.3 percent, annually in August.

Producer prices for agriculture, forestry and fishing and intermediate goods grew by 15.1 percent and 13.4 percent, respectively.

On a monthly basis, producer prices climbed 0.5 percent in August versus an expected increase of 0.4 percent.