Producer prices in South Africa increased 2.3 percent year-on-year in November 2019, easing from a 3 percent rise in the previous month and below market expectations of 2.8 percent. It was the lowest producer inflation since series began in January 2013. Prices continued to fall for both intermediate manufactured goods (-1.1 percent vs -0.6 percent in October) and agriculture, forestry and fishing (-1.1 percent vs -1.6 percent). On the other hand, prices rose faster for mining and quarrying (20.8 percent vs 17.7 percent) while inflation was steady for electricity and water (at 13.4 percent). On a monthly basis, producer prices edged down 0.3 percent, after a 0.3 percent increase in October. Producer Prices Change in South Africa averaged 5.63 percent from 2013 until 2019, reaching an all time high of 8.80 percent in April of 2014 and a record low of 2.30 percent in November of 2019. source: Statistics South Africa
Producer Prices Change in South Africa is expected to be 2.50 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 4.30 in 12 months time. In the long-term, the South Africa Producer Prices Change is projected to trend around 4.50 percent in 2020, according to our econometric models.