PPI continues upward trend to 4.3% in Nov

Cape Town – South Africa's annual producer price index (PPI) for final manufactured goods was up 0.1% for the month of November.

Statistics South Africa said on Thursday that the annual percentage change in PPI for final manufactured goods has increased to 4.3% in November from 4.2% in October.

The PPI impacts on the consumer price index (CPI) and thus inflation, and this increase would likely be felt by consumers.

October’s annual percentage change in the PPI was 4.2%, up from 3.6% in September. The PPI for final manufactured goods has shown a progressive increase from a rate of 3.3% in July.

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The main contributors to the annual 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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