Year-on-year producer price inflation for all commodities sank to 5,1% in March from 14,1% in the same period last year, Statistics SA reported on Wednesday.
It said a drop in the inflation rate for food at manufacturing — from 14,1% in February to 10,4% in March — contributed to the slowdown in the production price index (PPI).
Lower annual rates of increase were also recorded in the price index for agricultural products (from 0,5% to -2,6%) and that for paper, paper products and printing (from %10,9 to %10,2).
Inflation rates in the PPI for chemicals and chemical products dropped from %7,7 to %6,9, that for non-electrical machinery and equipment from %4,1 to %2,9, and that for transport equipment from 8,1% to 6,9%.
Stats SA said the PPI for locally produced commodities also declined last month. It stood at 6,9% compared to 7,6% in February. – Sapa