South Africa's producer price inflation continued its downward trend in August, reaching its lowest level in just over a year, according to a report released by Statistics South Africa on Thursday.
The Producer Price Index (PPI) saw an annual increase of 2.8 percent in August, down from the 4.2 percent rise recorded in the previous month.
Notably, this marks the lowest inflation rate since July 2023, when prices increased by 2.1 percent.
The annual price increase for electricity and water moderated to 7.1 percent, compared to 10.2 percent in July. Meanwhile, mining prices experienced a 1.7 percent decline. Prices for intermediate manufactured goods maintained a stable growth rate of 4.2 percent.
On a month-to-month basis, producer prices decreased by 0.3 percent in August.
