South Africa's producer price inflation accelerated at a faster-than-expected pace in August, figures from Statistics South Africa showed Thursday.
Producer prices for manufactured goods climbed 4.2 percent year-over-year in August, faster than the 3.6 percent increase in July. Economists had expected the PPI inflation to rise to 4.1 percent.
The price index for electricity and water grew 2.6 percent annually in August and those of intermediate manufactured goods rose by 2.0 percent. At the same time, the price index for agriculture, forestry and fishing registered a decline of 0.9 percent.
On a monthly basis, producer prices increased 0.4 percent in August, just above the expected rise of 0.3 percent.
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