Producer prices remained in deflationary territory in November as SA’s producer price index (PPI) contracted 0.1% year on year after a 0.7% decline in the previous month.

“This week’s data releases clearly still reflect a very benign inflation picture,” said Elna Moolman, Standard Bank head of SA macroeconomic research, referring to PPI and Wednesday’s report by Stats SA, which shows consumer inflation accelerated mildly to an annualised 2.9% in November, though still below the Reserve Bank’s 3%-6% target range...

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