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Concern Over PPI
| News by Staff ReporterSA’s PPI was +10,5% in September 2011
South Africa’s Producer Price Index (PPI) increased by 0,9 of a percentage point year-on-year in September, according to official data released by Statistics SA.“The annual percentage change in the PPI was +10,5% in September 2011 (i.e. the PPI in September 2011 compared with September 2010),” said the statistics firm.
This rate is 0,9 of a percentage point higher than the corresponding annual rate of +9,6% in August 2011.
The PPI in September is broadly in line with economists’ expectations, but has risen to its highest level in nearly three years, driven by higher prices in electricity, petrol, minerals and food.
This increase in producer inflation, however, has sparked concern over the trajectory of consumer inflation as we approach the end of the year – during which consumer inflation is expected to temporarily breach the official 3%-6% target range.
Statistics SA said from August 2011 to September 2011 an increase of 3,3% was recorded in the PPI for domestic output.
The main driver of the month-on-month increase of 3,3% was higher prices in electricity, which saw an increase of 26,7%.
Source: www.bizpremises.co.za
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