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South Africa: South Africa's factory gate inflation weakened in October

2013/11/28

South Africa's factory gate inflation weakened in October, and missed economists' expectations, new data showed Thursday.

The manufacturing producer price index increased 6.3 % in October from a year before, following a 6.7 % gain in September. Economists were looking for a 6.4 % gain.

The major contributors to the annual increase were food products, beverages and tobacco products, and wood and paper products, data showed.

Part industrial sub-sectors, output prices of intermediate goods advanced 7.7 % annually, and costs of electricity and water climbed 14.6 %. Meanwhile, prices in the mining sector decreased by 0.2 %.

Sequentially, the producer price index moved up 0.5 % in October. The outcome matched economists' expectations.

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