SA manufacturing inflation hits record 13%

South African producer inflation rose to a record high in April, beating analysts’ forecasts, which is likely to tighten further manufacturing mood.

Prices of final artifacts rose 13.1%, from 11.9% in March, according to data from Statistics South Africa. This is the highest rate since early 2013, when the statistical office split its producer price index and began reporting five different measures for factory prices, including agriculture, mining, electricity and water. and intermediate artifacts. The median estimate of seven economists in a Bloomberg survey was 12%. The increase was driven by rising costs of fuel, coal and food, drink and tobacco.

The surge along with continued blackouts instituted by state-owned electric company Eskom Holdings SOC Ltd. on all but three days this month is likely Absa’s Purchasing Managers’ Index compiled by the Bureau for Economic Research will drop in May, after the largest decline in nine months to April.

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