Producer price inflation, trade data and private-sector credit extension numbers are scheduled for release this week. Though the trade account is likely to show another surplus and producer inflation probably dropped further, private sector credit is likely to reflect the weak state of the economy. Statistics SA will release producer inflation data for March on Wednesday. Inflation at the factory gate declined markedly from 5.9% year on year in January to 5.6% in February. Most economists expect this decelerating trend to continue, helped by the strong rand and a drop in food-price inflation as SA recovers from drought. The food category carries the largest weight in the producer inflation basket, accounting for just more than 25%. BNP Paribas Securities economist Jeff Schultz expects headline producer inflation to come in at 5.3% year on year in March on softer manufactured food prices, the decline in domestic fuel prices in March and the slight weakening of the purchasing managers...
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