PRODUCER prices for final manufactured goods in South Africa climbed to an almost two-year high in March, driven by food, beverages and tobacco products.
Data from Statistics South Africa (StatsSA) yesterday showed that annual producer price inflation (PPI) increased by 5.2 percent in March, up from 4 percent in February. StatsSA said this was the largest annual rise in headline PPI since June 2019, when the rate was 5.8 percent, and was above market expectations of 4.5 percent. Food products, beverages and tobacco products went up by 6.8 percent year-on-year. Coke, petroleum, chemical, rubber and plastic products rose by 4.2 percent, while metals, machinery, equipment and computing equipment increased by 5.2 percent over the same period. On a monthly basis, producer prices inched…
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Cape Times (Digital) - 1 Issue, 2021-04-30