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Producers' prices ease marginally

28 Feb 2012

Producer inflation dropped to 8,9% year-on-year (y/y) in January, down from 9,8% in December and Fin24 quotes Citadel economist Salomi Odendaal as saying the figures were in line with the general movement in commodities prices.

According to the Fin24 report, he says that there is some upward pressure on the manufacturing sector but that the risk for consumer price inflation was coming more from the services sector than from rising prices of goods manufactured in South Africa.

Statistics South Africa's says that consumer inflation edged up to 6,3% y/y in January, slightly higher than the Reserve Bank's target of between 3% and 6%.

StatsSA is planning sweeping changes to the way the producer price inflation levels are measured in order to make it more relevant to consumer prices.

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