South Africa PPI Inflation Eases To 5-month Low

(RTTNews) - South Africa's producer price inflation moderated in January to the lowest level in five months, Statistics South Africa reported Thursday.

The producer price index rose 2.2 percent year-over-year in January, slower than the 2.9 percent stable increase in December. Further, this was the slowest rate since August last year, when prices had risen 2.1 percent.

The annual price decline in agriculture, forestry, and fishing deepened to 5.8 percent from 5.0 percent. Prices for electricity and water rose at a slightly slower pace of 16.7 percent versus 16.9 percent in December. Meanwhile, costs for intermediate manufactured goods grew at a slightly faster rate of 10.5 percent versus a 10.1 percent rise a month ago.

Month-on-month, producer prices dropped 0.2 percent in January.