November prices for manufactured goods up 5.8%

13 Dec 2013

The annual percentage change in the producer price index (PPI) for final manufactured goods was 5.8% year-on-year (y/y) in November‚ compared with 6.3% y/y in October‚ Statistics SA figures showed on Thursday (12 December).

Producer price inflation was up by 5.8% in November. Image: Master Isolated Images Free Digital Photos

From October to November‚ the PPI for final manufactured goods increased by 0.2%.

Stats SA has since January published distinct PPIs to cover agriculture‚ mining‚ electricity and water‚ and manufacturing. The PPI for final manufactured goods is now considered "headline" PPI.

PPI was expected to have increased by 6.1% y/y‚ a survey by I-Net Bridge found. Forecasts from eight economists surveyed ranged from 5.9% to 6.25% y/y.

Stats SA said the main contributors to the annual rate of 5.8% were food products‚ beverages and tobacco products (4.8% y/y and contributing 1.6 percentage points); metals‚ machinery‚ equipment and computing equipment (6.2% y/y and contributing 1.0 percentage point); and transport equipment (8.3% y/y and contributing 0.9 of a percentage point).

The main contributor to the monthly increase of 0.2% was food products‚ beverages and tobacco products (0.2% month on month and contributing 0.1 of a percentage point).

The annual percentage change in the PPI for intermediate manufactured goods was 7.5% in November compared with 7.7% in October. From October to November the PPI for intermediate manufactured goods increased by 0.1%.

The main contributors to the annual rate of 7.5% were chemicals‚ rubber and plastic products (8.9% y/y and contributing 3.6 percentage points); basic and fabricated metals (6.6% y/y and contributing 1.9 percentage points); and textiles and leather goods (14.8% year on year and contributing 1.2 percentage points).

The main contributors to the monthly increase of 0.1% were textiles and leather goods and saw-milling and wood.

The annual percentage change in the PPI for electricity and water was 15.8% in November compared with 14.6% in October. From October to November the PPI for electricity and water was unchanged.

The annual percentage change in the PPI for mining was 1.4% in November compared with -0.2% in October. From October to November the PPI for mining increased by 1.5%.

The annual percentage change in the PPI for agriculture‚ forestry and fishing was 2.8% in November compared with 1.8% in October. From October to November the PPI for agriculture‚ forestry and fishing increased by 2.5%.

Source: I-Net Bridge

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