South Africa Producer Price Inflation Steady In December

South Africa’s producer price inflation remained stable in December, figures from Statistics South Africa showed on Thursday.

The producer price index rose 3.0 percent year-on-year in December, same as seen in November. Economists had expected inflation to rise to 2.8 percent.

The main contribution for the increase in prices came from food products, beverages and tobacco products, and transport equipment in December.

Producer prices for mining industry gained 25.3 percent annually in December and prices for electricity and water increased 8.2 percent.

Prices for agriculture, forestry and fishing, and intermediate goods rose by 9.1 percent and 6.8 percent, respectively.

On a monthly basis, producer prices rose 0.2 percent in December. Economists had expected a 0.3 percent rise.

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