Producer prices in South Africa surged by 14.7% year-on-year in May of 2022, accelerating from a 13.9% rise in the previous month and topping market estimates of 14.1%. It marks the sixth straight month of double-digit producer inflation and the highest reading since records began in 2013, mainly on account of prices of coke, petroleum, chemical, rubber and plastic products (31.7% vs 28.4% in April), largely due to fuels. Additional upward pressure came from costs of food products, beverages and tobacco products (9.7% vs 8.3%), mostly food (12.3% vs 9.9%); and metals, machinery, equipment and computing equipment (15.9% vs 14.1%). On a monthly basis, producer prices advanced 1.8%, the same pace as in April but above market forecasts of a 1.3% increase. source: Statistics South Africa
Producer Prices Change in South Africa averaged 5.67 percent from 2013 until 2022, reaching an all time high of 14.70 percent in May of 2022 and a record low of 0.30 percent in May of 2020. This page provides the latest reported value for - South Africa Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. South Africa Producer Prices Change - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Producer Prices Change in South Africa is expected to be 15.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Producer Prices Change is projected to trend around 6.00 percent in 2023 and 4.70 percent in 2024, according to our econometric models.