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StatsSA releases annual headline PPI rate results, revealing decline in July 2021

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StatsSA has released the results of the producer price inflation for the month of July 2021, noting a decrease from June and an increased producer price index.

Statistics South Africa (StatsSA) released key findings on producer price inflation (PPI) for July 2021 on Thursday, 26 August 2021, reporting that annual producer price inflation decreased for the month of July 2021, from 7.7% in June 2021. The producer price index is said to have increased by 0.7% month-on-month for July.

Main contributors to the headline PPI annual inflation rate year-on-year were; coke, petroleum, chemical, rubber and plastic products, with an increase of 11.7% contributing 2.4 percentage points; food, beverages and tobacco products increased by 6.1% and contributed 2.2 percentage points, while metals, machinery and computing equipment increased by 9.1%, contributing 1.3 percentage points. The main contributor to the headline PPI monthly increase was reported to be coke, petroleum, chemical, rubber and plastic products, which increased by 1.9% and contributed 0.4 of a percentage point.

Annual percentage change in the PPI for immediate manufacturing goods was 17.6%, with an index increase of 0.8%. Electricity and water recorded a change of 13.9%, with an index increase of 11.2%. Mining recorded a 15.3% change and a 1.1% index increase, while agriculture, forestry and fishing was 11.3%, with a 0.7% index increase.

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