Sharp uptick in PPI in January

JOHANNESBURG - The cost of manufacturing goods in South Africa increased sharply in January this year.

According to Statistics South Africa, the producer price index was 4.7 percent in January year-on-year, up from 4 percent in December 2023.

READ: FUEL PRICES | STEEP HIKE EXPECTED

The main contributing sectors on an annual basis were the food products, beverages and tobacco products industry, as well as the metals, machinery, equipment and computing equipment industry.

There are concerns that there will be a further uptick as fuel increases in February and possibly March could have an impact.