S. Africa Producer Prices Decline In September

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Thursday, the Statistics South Africa announced that the producer price index or PPI dropped 3.7% year-on-year in September, compared to the 4% fall in the previous month. Economists expected a decline of 2.5%. A year ago, the PPI was up 19.1%.

On a monthly basis, the PPI decreased 3.2% in September, in contrast to a 0.3% increase in the previous month. Economists expected a decline of 2.2%.

Meanwhile, the exported commodities prices decreased 11.2% on an annual basis in September, after falling 9.2% in August. Month-on-month, prices for exported commodities dropped 0.7%.

Similarly, prices for imported commodities fell 16.2% year-on-year in September, compared to the 17.8% decline in August. Compared to August, imported commodities prices showed a flat reading in September.

Thursday, the Statistics South Africa announced that the producer price index or PPI dropped 3.7% year-on-year in September, compared to the 4% fall in the previous month. Economists expected a decline of 2.5%. A year ago, the PPI was up 19.1%. (Market News Provided by RTTNews)