Good news as the PPI eases

2012-01-26 13:01

Producer price inflation (PPI) – or the increase in factory gate prices – eased to 9.8% year-on-year in December, Statistics South Africa revealed today.

“This rate is 0.3 of a percentage point lower than the corresponding annual rate of 10.1% in November 2011,” it reported.

The lower yearly rate was driven by decreases in mining and quarrying, other manufacturers, wearing apparel, electrical machinery and apparatus.

The decreasing rate of inflation was partially counteracted by increases in electricity, basic metals and food at manufacturing.

The producer price inflation for last month was lower than expected, with economists expecting it to hold steady at 10.1%.

The producer price inflation measures the cost of a basket of goods needed by a typical commodity producer and measures inflation at factories, mines and farms.

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