Uncategorized 28.11.2013 02:47 pm

PPI down to 6.3 percent

Image courtesy of stock.xchng (Christian Ferrari).

Image courtesy of stock.xchng (Christian Ferrari).

The year-on-year headline producer inflation rate slowed more than expected to 6.3 percent last month from 6.7 percent in September, Statistics SA said on Thursday.

The price of manufactured goods leaving the factory gates increased by 0.5 percent on a monthly basis, driven by the prices of food, beverages, tobacco products, and wood and paper.

Stats SA releases five industry-specific producer price indices. The final manufactured goods index represents the headline number.

It said the producer price index for mining fell by 0.2 percent year-on-year in October, after having risen by 4.1 percent in September. On a month-on-month basis, it dropped by 0.9 percent.

The annual percentage change in the PPI for electricity and water was 14.6 percent in October 2013, compared with 12.9 percent in September.

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