Subdued monthly price increases led the annual Producer Price Index (PPI) for final manufactured goods (headline PPI) to drop to 6,3% in October from 6,7% in September and August 2013. The monthly figure increased by 0,5% – up slightly from the 0,4% increase in September and lower than the 0,9% in October 2012.
The two main drivers of the monthly increase were food products (0,6%) and wood and paper products (2,1%). The most significant price increases in food products were meat (1,8%), fish (2,4%), dairy products (0,9%) and sugar (1,4%). The producer prices of paper and printed products increased by 2,1% from September.
These price increases were counteracted by a monthly decrease in the prices for coke and petroleum products (-0,7%) due to lower crude oil prices and a modest appreciation in the rand against the dollar in October.
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