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April's annual producer inflation accelerated to 6.7%, in line with economists' expectations.
Stats SA on Thursday released producer inflation data. On a month-on-month basis, producer inflation increased 0.7%.
According to Stats SA, the main contributors to annual inflation were food products, beverages and tobacco products, which increased 6.7%; products in the coke, petroleum, chemical, rubber and plastic category increased by 11.9%; and metals, machinery, equipment and computing equipment increased by 8%.
Investec economist Lara Hodes said that the low base effect from April 2020, at the height of Covid-19 lockdown restrictions, was reflected in the lift in this year's print.
The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) noted that producer inflation is on an increasing trend, having lifted from 3.5% in January.