January’s PPI increases to 4.7%

PPI is Producer Price Inflation
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Statistics South Africa (Stats SA) has released the Producer Price Index (PPI) for January, which rose to 4.7% year-on-year, compared with 4% in December.

Last week, Stats SA announced that Consumer Price Inflation ( CPI) increased from 5.1% in December to 5.3% in January.

Stats SA says on a month-on-month basis, PPI, which measures changes in the prices of locally produced commodities, came in at 0.1% in January, compared with minus 0.6% in December.

The main contributors to the headline PPI annual inflation rate were food products, beverages and tobacco products, which increased by 4.0% year-on-year and contributed 1.2%.

Metals, machinery, equipment and computing equipment increased by 5.8% year-on-year and contributed 0.8%.

Coke, petroleum, chemical, rubber and plastic products increased by 2.7% year-on-year and contributed 0.7% and transport equipment increased by 7.3% year-on-year and contributed 0.6%.

Document: Stat SA’s  Producer Price Index (PPI) for January: