South Africa’s producer inflation quickened more than expected to 5,5% year-on-year in April from 3,7% in March, official data showed on Thursday.
Statistics South Africa said on a monthly basis producer inflation, representing domestic output, was at 1,5% compared with 0,3% in March.
Exported commodities inflation stood at 0,2% year-on-year in April compared with -3,4% the month before, while imported commodities inflation slowed to 5% year-on-year from 5,8% previously.
A Reuters poll last week showed PPI was expected to quicken to 4,5% year-on-year and 0,5% month-on-month. — Reuters