RTTNews - Thursday, the Statistics South Africa said in a report that the producer price index or PPI dropped 3.8% year-over-year in July, compared to the 4.1% fall in the previous month. Economists were looking for a decline of 4.5%. The producer prices had grown 18.9% in a year earlier.
On a monthly basis, producer prices climbed 2.9% in July, faster than the 1.5% growth in the previous month. Economists expected an increase of 1.9%.
Meanwhile, producer prices for export commodities dropped 9.3% annually in July, compared to the 9.7% fall in the preceding month. Month-on-month, it was down 0.2%.
Producer prices for imported commodities declined 17.5% on an annual basis and it was up 1% compared to the preceding month.
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