Producer prices in South Africa went up 1.2% from a year earlier in April of 2020, following a 3.3% rise in the prior month and below market expectations of a 1.95% gain. That was the lowest producer inflation since available records began in January of 2013, due to a slump in prices of coke, petroleum, chemical, rubber & plastic products (-5.3% vs 2.2% in March), namely fuels such as petrol (-16.3%) and diesel (-14.9%) amid falling oil prices prompted by the coronavirus crisis. Costs also decreased for non-metallic mineral products (-3.2% vs 3.3%) and metals, machinery, equipment & computing equipment (-0.2% vs 4.5%). Meantime, inflation slowed markedly for tobacco products (3.4% vs 9.6%), as South African authorities banned the sales of those products as part of Covid-19 lockdown restrictions. On a monthly basis, producer prices decreased 0.7%, after rising 0.1% in March and compared with market consensus of a 0.05% increase.
Producer Prices Change in South Africa averaged 5.43 percent from 2013 until 2020, reaching an all time high of 8.80 percent in April of 2014 and a record low of 1.20 percent in April of 2020. This page provides the latest reported value for - South Africa Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Africa Producer Prices Change - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics South Africa
Producer Prices Change in South Africa is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in South Africa to stand at 4.10 in 12 months time. In the long-term, the South Africa Producer Prices Change is projected to trend around 4.30 percent in 2021 and 4.50 percent in 2022, according to our econometric models.