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South Africa Producer Price Inflation At 6-Month High

South Africa's producer price inflation was the highest in six months in January, figures from Statistics South Africa showed on Thursday.

The producer price index rose 4.6 percent year-on-year in January, following a 3.4 percent increase in December.

The latest inflation was the highest since July, when it was 4.9 percent.

The main contribution came from coke, petroleum, chemical, rubber and plastic products, food products, beverages and tobacco products, and metals, machinery, equipment and computing equipment.

Producer prices for mining industry increased 32.2 percent annually in January, and those of electricity and water, and intermediate goods rose by 13.2 percent and 0.7 percent, respectively.

Meanwhile, prices for agriculture, forestry and fishing declined 0.9 percent.

On a monthly basis, producer prices rose 0.3 percent in January.

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