Headline producer inflation came in above market expectations, reflecting the effects of higher fuel prices and global supply blockages.
Stats SA data released on Thursday showed the headline producer price index accelerated 10.5%, up from a 10.1% jump in January and above market expectations of a 10.2% rise.
On a monthly basis, producer prices inched up 1.1%, after a 0.2% increase in the prior month and above market expectations of a 0.9% rise.
The main contributors to the headline PPI annual inflation rate were coke, petroleum, chemical, rubber and plastic products which increased 2.7% month on month and contributed 0.7 of a percentage point.
Nedbank economist Tachin Ramnath said producer inflation had increased slightly from the previous month mainly due to higher fuel prices, which continued to reflect the effect of global supply blockages and elevated oil prices.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.