S.Africa Feb PPI slows to +9.5 percent yr/yr

(Reuters) - South Africa's producer price inflation slowed to 9.5 percent year-on-year in February after a 9.8 percent increase in January, below forecasts, official data showed on Thursday.

On a monthly basis, PPI decreased by 0.1 percent after a 0.4 percent increase in January.


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Sharp drop in producer inflation

SA's producer price inflation has braked to 9.3% in the year to December after a 10% rise in November, way below analysts' expectations.

The PPI declined -0.6% on a monthly basis after November's monthly increase of 0.5%.
The PPI was expected to have increased to 10.3% y/y in December, a survey of 12 economists by I-Net Bridge found.
A year ago PPI was at half the current levels, coming in at just 5.1%.

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Rand softer versus dollar ahead of PPI

South Africa's rand opened weaker against the dollar on Thursday and market players said the currency would take further direction from official producer inflation data due out later in the morning.
The rand was trading at 7.1525 versus the dollar at 0705 GMT, three cents weaker than its New York close of 7.1250 on Wednesday.

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