South Africa's producer price inflation slowed more than economists expected in April, data released by Statistics South Africa showed Thursday.
The producer price index increased 6.6 percent on an annual basis in April, slower than the 7.2 percent growth seen in March. Economists were looking for a 6.9 percent gain.
Food prices advanced 7.3 percent annually during the month, while prices of clothing an wearing apparel rose 3.8 percent. Meanwhile, there was a 0.4 percent decrease in transportation costs, data showed.
Month-on-month, producer prices moved up 0.3 percent in April, recovering from the previous month's 0.1 percent decrease. Economists were looking for a 0.5 percent growth.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org