PPI prices climb most since 2016

Growth in SA prices accelerated at the fastest rate since 2016 last month as fuel prices surged.

Producer inflation quickened to 6.3% from a year earlier compared with 6.1% in July, Statistics SA said. That’s the fastest pace of increases since December 2016.

Gasoline prices surged to a record this month even as the government intervened in setting prices for the first time since the early 2000s. Crude has climbed 20% this year. – Bloomberg