Year-on-year producer price inflation for all commodities sank to minus 1,8% last month from minus one percent in September, Statistics SA said on Wednesday.
It ascribed the latest production price index (PPI) to, among others, an annual rate of decrease in the cost of manufacturing petroleum and coal products.
The rate in this category dropped from minus 9,5% in September to minus 16,3% last month.
The PPI for food at manufacturing abated from minus 2,8% in September to minus 3,6% last month.
A decline was also recorded in the cost of producing basic metals, non-electrical machinery and equipment, rubber and plastic goods, paper and paper products, and chemicals.
These lower annual rates of decreases were partly offset by increases in the categories for beverages and agricultural products.
Stats SA said the PPI for locally-produced commodities showed an annual rate of increase of one percent last month compared to 1,7% in September.
Contributors included annual increases in the price indices for electricity, transport equipment, beverages, and metal products.
These were offset by annual decreases in the indices for agricultural products, petroleum and coal products, food at manufacturing, electrical machinery and apparatus.
The annual rate of change in the PPI for imported commodities stood at minus nine percent last month from minus eight percent in September.
Contributors included relatively large annual decreases in the price indices for mining and quarrying products, transport equipment, and non-electrical machinery. – Sapa