CAPE TOWN: South Africa’s producer price inflation accelerated in June after slowing in the previous three months, figures from Statistics South Africa showed Thursday. The producer price index rose 6.8 percent year-on-year after climbing 6.5 percent in May. Economists had forecast a score of 6.7 percent.
The main contributors to the annual rate were food products, beverages and tobacco products, metals, machinery, equipment and computing equipment and transport equipment, the agency said. On a month-on-month basis, the producer price index increased 0.6 percent in June. Economists had predicted a 0.6 percent rise.