2020.09.2814:54:00UTC+00South Africa Producer Price Inflation At 5-Month High

South Africa's producer price inflation rose to the highest in five months in August, figures from Statistics South Africa showed on Monday.

The producer price index rose 2.4 percent year-on-year in August, following a 1.9 percent increase in July.

Prices rose to the highest since March, when it was 3.3 percent.

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

Producer prices for mining industry grew 26.6 percent annually in August and prices for electricity and water increased 6.7 percent.

Prices for agriculture, forestry and fishing, and intermediate goods rose by 6.5 percent and 3.2 percent, respectively.

On a monthly basis, producer prices increased 0.7 percent in August.

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