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Feb PPI increases for final manufactured goods

The annual percentage change in the producer price index (PPI) for final manufactured goods was 5.4% in February compared to 5.8% year-on-year in January‚ Statistics SA figures showed on Thursday, 28 March 2013.

From January to February the PPI for final manufactured goods increased by 0.6%.

From January this year‚ Stats SA published distinct PPIs to cover agriculture‚ mining‚ electricity and water‚ and manufacturing.

New calculation weights

Stats SA used new weights to calculate PPI and noted that the aggregate headline PPI would be done away with‚ and that the PPI for final manufactured goods would now be considered as the "headline" PPI.

The main contributors to the annual rate of 5.4% were food products‚ beverages and tobacco products (6.2% year on year and contributing 2.0 percentage points) and coke‚ petroleum‚ chemical‚ rubber and plastic products (7.1% year on year and contributing 1.2 percentage points).

Main contributors

The main contributors to the monthly increase of 0.6% were food products‚ beverages and tobacco products (0.6% month on month and contributing 0.2 of a percentage point) and coke‚ petroleum‚ chemical‚ rubber and plastic products (0.9% month on month and contributing 0.2 of a percentage point).

Intermediate manufactured goods

The annual percentage change in the PPI for intermediate manufactured goods was 6.0% in February 2013. From January to February the PPI for intermediate manufactured goods increased by 0.6%.

The main contributors to the annual rate were chemicals‚ rubber and plastic products (4.6% year on year and contributing 1.9 percentage points) and basic and fabricated metals (5.2% year on year and contributing 1.6 percentage points).

The main contributor to the monthly increase of 0.6% was basic and fabricated metals (1.7% month on month and contributing 0.5 of a percentage point).

Electricity and water

The annual percentage change in the PPI for electricity and water was 13.0% in February 2013. From January to February the PPI for electricity and water increased by 1.3%.

Electricity increased by 1.4% month on month and by 13.7% year on year. Water was unchanged month on month and increased by 8.5% year on year.

Mining

The annual percentage change in the PPI for mining was 6.6% in February. From January to February the PPI for mining increased by 1.1%.

The main contributors to the annual rate of 6.6% were non-ferrous metal ores (8.5% year on year and contributing 3.9 percentage points) and coal and gas (6.3% year on year and contributing 1.5 percentage points).

The main contributors to the monthly rate of 1.1% were non-ferrous metal ores (2.4% month on month and contributing 1.1 percentage points) and coal and gas (1.3% month on month and contributing 0.3 of a percentage point).

Agriculture, forestry and fishing

The annual percentage change in the PPI for agriculture‚ forestry and fishing was 1.2% in February. From January to February the PPI for agriculture‚ forestry and fishing decreased by 3.4%.

The main contributor to the annual rate of 1.2% was agriculture (1.4% year on year and contributing 1.1 percentage points).

The main contributor to the monthly decrease of 3.4% was agriculture (4.3% month on month resulting in a decrease of 3.3 percentage points).

Source: I-Net Bridge

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