forex newsSouth Africa PPI Inflation Accelerates To 17-Month High

South Africa PPI Inflation Accelerates To 17-Month High

South Africa’s producer price inflation accelerated in June to the highest level in almost one-and-a-half years, figures from Statistics South Africa showed Thursday.

Producer prices climbed 5.9 percent year-over-year in June, faster than the 4.6 percent rise in May.

Moreover, this was the highest rate of growth since January 2017, when prices had risen the same 5.9 percent.

The overall PPI Inflation was mainly driven by higher prices of coke, petroleum, chemical, rubber and plastic products, transport equipment and food products, beverages and tobacco products.

On a monthly basis, producer prices increased 0.9 percent at the end of the second quarter.

The material has been provided by InstaForex Company – www.instaforex.com

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