PPI records deflation

Wednesday, September 23, 2009

Pretoria - The annual percentage change in the Producer Price Index (PPI) was -4% in August, Statistics South Africa (Stats SA) reported on Wednesday.

It came in at 0.2% lower than the -3.8% recorded in July.

The statistical body said the continued decrease could be attributed to the rate of change in indices for agricultural products, wood and wood products, chemicals and chemical products.

Other indices included rubber and plastic products, non-metallic mineral products, metal products, non-electrical machinery and equipment, transport and other manufacturers.

Some economists had predicted the figure would come in at -3.5 percent.