South Africa’s producer price inflation slowed unexpectedly in July after accelerating in the previous four months, figures from Statistics South Africa showed Thursday.
The producer price index for final manufactured goods rose 3.3 percent year-over-year in July, slower than June’s 3.7 percent climb. Economists had expected the inflation to accelerate slightly to 3.8 percent.
Prices in the utility sector surged 12.2 percent in July from a year ago, while mining prices declined by 8.7 percent.
On a monthly basis, producer prices edged up 0.2 percent in July, below economists’ expectations for a 0.6 percent rise.
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