Producer price increases accelerated much as expected in August, thanks to higher fuel prices. The producer price index (PPI) for final manufactured goods, regarded as the headline figure, rose 4.2% from a year earlier, accelerating from a 3.6% increase in July, Statistics SA said on Thursday. Trading Economics had pencilled in a 4.1% increase. Petrol prices were up 5.7% from a year earlier, after a 4.6% fall in July, while diesel prices rose 2.8% against July’s 6.4% fall. The broader category of coke, petroleum, chemical, rubber and plastic products accounted for 1.6 percentage points of the 4.2% year-on-year increase in the PPI, Statistics SA said. Producer inflation has largely headed lower this year, with accelerations seen only in May and August. It started the year at 5.9%. Compared with July, the PPI for final manufactured goods rose 0.4% in August, down from a 0.5% rise in July from June. Producer inflation for food products continued to moderate, to 3.1% year on year in Aug...
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