Lower fuel prices stabilise producer inflation in June
Factory prices update raises hopes for rate-cutting to start later in 2024
25 July 2024 - 19:33
Hard on the heels of Wednesday’s announcement that consumer price increases moderated to their lowest in 2024, Thursday’s factory prices update from Stats SA provided more proof that inflation is heading in a direction that could support a decision by the Reserve Bank to start cutting rates this year.
Annual producer price inflation for June was 4.6%, unchanged from May and slightly ahead of the Bloomberg consensus forecast of 4.5%. However, the month-on-month producer price index (PPI) reading decreased by 0.3%, according to Stats SA...
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