RTTNews - Thursday, the Statistics South Africa announced that the producer price index or PPI dropped 4.1% year-over-year in June, compared with a 3% fall in the previous month. Economists had expected a decline of 3.3%.
On a monthly basis, the PPI increased 1.5% in June, after falling 1.1% in May. Economists were looking for an increase of 2.2%.
In June, producer prices for exported commodities dropped 9.7% annually in June, while imported commodities PPI dipped 17.9%. Month-on-month, exported commodities PPI declined 2.3% and imported commodities PPI was up 0.8%.
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