PPI continues upward trend to 4.3% in Nov
South Africa's yearly producer price index (PPI) for final manufactured goods was up 0.1% for the month of November.
Statistics South Africa (StatsSA) said on Thursday that the yearly percentage change in PPI for final manufactured goods had increased to 4.3% in November from 4.2% in October.
The PPI impacted on the consumer price index (CPI) and thus inflation, and this increase would likely be felt by consumers.
October’s yearly change in the PPI was 4.2%, up from 3.6% in September. The PPI for final manufactured goods had shown a progressive increase from a rate of 3.3% in July.
The main contributors to the yearly rate of 4.3% for November were food products, beverages and tobacco products, wood and paper products, equipment, and computing equipment.
“The main contributor to the monthly increase of 0.1% was food products, beverages and tobacco products,” according to StatsSA.
South Africa’s economy is struggling to grow, putting strain on consumers battling inflation, unemployment, low growth opportunities and a weakening rand.
The PPI for electricity and water was 12.9% in November 2015, compared with 13.5% in October 2015. From October 2015 to November 2015 the PPI for electricity and water decreased by 0.2%
The PPI for mining was 2.4% in November, compared with -0.8% in October. From October 2015 to November 2015 the PPI for mining increased by 0.6%.
The PPI for agriculture, forestry and fishing was 9.6%, compared with 6.8% in October. From October 2015 to November 2015 the PPI for agriculture, forestry, and fishing increased by 4.5%.
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