Johannesburg – The Producer Price Inflation rose to an annual rate of 5.2% in March and Stats SA says this is the highest since June 2019.
However, this is worse than the Bloomberg median estimate of 4.6%.
Stats SA explained that this is due to food product prices, from meat to diary and grain, have increased.
Food products, together with beverages and tobacco products have increased by 6.8% year on year and contributed 2.4 percentage points.
The recent rise in fuel prices has also put upward pressure on the factory gate prices.