Producer prices in South Africa increased 6.2 percent year-on-year in March 2019, following a 4.7 percent gain in the previous month and above market expectations of 5.4 percent. Prices advanced further for food, beverages & tobacco (4.5 percent from 3.4 percent in February); coke, petroleum, chemical, rubber & plastic products (10.9 percent from 6.3 percent); metals, machinery & computer equipment (3.8 percent from 3.2 percent); transport equipment (5.7 percent from 5.3 percent); and electrical machinery & communication (5.3 percent from 4.9). Meanwhile, cost slowed for paper & printed products (7.5 percent from 7.7 percent); textiles, clothing & footwear (3.9 percent from 4.4 percent) and non-metallic mineral products (4.8 percent from 6.2 percent). On a monthly basis, producer prices went up 1.3 percent, after a 0.3 percent rise in the prior month and higher than market forecasts of 0.5 percent. Producer Prices Change in South Africa averaged 5.72 percent from 2013 until 2019, reaching an all time high of 8.80 percent in April of 2014 and a record low of 2.61 percent in February of 2015.
Producer Prices Change in South Africa is expected to be 6.70 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 5.60 in 12 months time. In the long-term, the South Africa Producer Prices Change is projected to trend around 5.00 percent in 2020, according to our econometric models.