Producer inflation rises slightly faster than expected in February
By Karl Genetzky - Mar 29th, 10:38
Rising fuel costs pushed producer inflation upwards in February, snapping a two-month streak of moderating pressure on prices.
Farm and factory gate inflation, as measured by the annual change in the producer price index (PPI) climbed to 4.7% in February from January’s 4.1%.
The consensus among economists, according to a poll by Trading Economics, was that producer inflation would rise to 4.6% year on year.
Coke, petroleum and chemicals rose 6.3% year on year, contributing 1.3 percentage points to the headline figure, while the food segment of the index rose by an annualised 3.4%.
Paper and printing products rose 7.7%.
Stats SA’s PPI report came a week after it reported that inflation, as measured by the annual change in the consumer price index (CPI), ticked up slightly to 4.1% year on year in February. This was in line with expectations.
January’s inflation reading was tempered by a R1.22/l drop in petrol and R1.54/l drop in diesel prices on the continued moderation in international oil prices and a stronger rand.
However, February saw a slight increase, with motorists paying 7c/l more for 93 and 95 grades of petrol, and between 1c/l and 2c/l more for diesel.
SA economy at risk of third-quarter contraction
11/10/2019 - 09:54
Dismal mining and manufacturing figures for August have raised the prospect of a third-quarter economic contraction.
SA's economy enters 70th month of downward cycle
09/10/2019 - 15:50
South Africa’s economy remains stuck in its longest downward cycle since 1945, adding to pressure on the government to implement reforms to lift business confidence and boost growth.
Stats SA’s seasonal adjustment models are part of regular rebasing
08/10/2019 - 10:53
Every year, SA’s economic activity peaks in the fourth quarter (October-December). On the production (or industry) side of GDP, this pattern is driven mainly by three industries: manufacturing; trade, catering and accommodation; and transport, storage, and communication.
Big business urges reforms to help SA economy
02/10/2019 - 13:17
Big business has called on President Cyril Ramaphosa to act urgently and implement short- and medium-term reforms and prioritise growth-enhancing policies to kickstart the economy.
Producer inflation decelerates in August
01/10/2019 - 11:02
Producer inflation continued to slow in August, reaching 4.5% year on year, down from July’s 4.9%, Statistics SA said.