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2017.05.2507:11:00UTC+00South Africa PPI Inflation At 17-Month Low

South Africa's producer price inflation eased at a faster-than-expected pace in April to the lowest level in almost one-and-a-half years, figures from Statistics South Africa showed Thursday.

Producer prices for manufactured goods climbed 4.6 percent year-over-year in April, slower than the 5.2 percent rise in March. Economists had expected the inflation to ease to 4.9 percent.

Moreover, this was the weakest PPI inflation since November 2015, when prices had grown 4.3 percent.

The price index for electricity and water rose 5.9 percent annually in April and those of intermediate manufactured goods increased by 5.0 percent. Meanwhile, the price index for agriculture, forestry and fishing registered a decrease of 1.6 percent.

On a monthly basis, producer prices went up 0.3 percent in April, below the 0.5 percent rise economists had expected.

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