South Africa’s April headline PPI quickens to 8.8 pct y/y

South Africa’s headline producer inflation accelerated more than expected to 8.8 percent year-on-year in April, from 8.2 percent in March, Statistics South Africa said on Thursday.

Economists polled by Reuters had predicted PPI would only quicken to 8.4 percent.

On a month-on-month basis, factory gate prices rose by 1 percent in April from 1.3 percent in March, against market forecasts of a 0.7 percent increase.

Stats S.A. releases five industry-specific producer price indices, with final manufactured goods representing the headline number.