PPI at 10.5% in September
Business Live - Oct 28th 2011, 08:15
SA's producer price index registered growth of 10.5% year on year in September from 9.6% y/y in August, Statistics South Africa data released on Thursday showed.
The PPI on a monthly basis decreased by 3.3% from 1.0% in August.
PPI was expected to have increased at 10.3% y/y in September, a survey by I-Net Bridge found. Forecasts among ten leading economists surveyed ranged from 9.5% y/y to 12.1% y/y.
This higher annual rate in September could be explained by increases in the annual rate of change in the PPI for mining and quarrying where the annual rate increased from +12.3% in August to +17.7% in September, Stats SA said.
There was also an increase in products of petroleum and coal - the annual rate increased from +25.1% in August to +27.1% in September.
In agriculture, the annual rate increased from +7.2% in August to +10.7% in September, while in the food at manufacturing sector, the annual rate increased from +7.2% in August to +8.8% in September.
The annual rate of other manufactures increased from +9.5% in August to +12.5% in September.
These increases were partially counteracted by decreases in the annual rate of change for chemical and chemical products where the annual rate decreased from +7.3% in August to +5.8% in September.
The annual rate for wearing apparel decreased from +6.1% in August to +5.0% in September, while the annual rate for basic metals decreased from +0.1% in August to -1.3% in September.
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