South Africa's producer price index (PPI) rose by 12,6% year-on-year (y/y) in November from 14,5% y/y in October, Statistics South Africa (Stats SA) said on Thursday.
The PPI dipped -1,3% on a monthly basis after October's monthly decrease of 0,5%.
The PPI was expected to have receded to 13,7% y/y, a survey by I-Net Bridge found.
All respondents predicted a drop from October, with forecasts among the eight leading economists ranging from a low of 12,8% y/y to 14% y/y.
This was the third decrease in producer price inflation in just under a year.
Stats SA attributed the rate in November to decreases in the annual rate of change for products of basic metals (from 50,3% to 47,7%), petroleum and coal (24% to 4,8%), food at manufacturing (from 15,6% to 13,4%), mining and quarrying (7% to 4,8%) and other manufacturers (7,2% to 5,8%).
These were counteracted by increases in electricity (from 32,6% to 32,7%) and agricultural products (-3,8% to -1,5%).
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