PPI measure adds to SARB's woe

South African producer price inflation (PPI) soared by 2% in February, leaving the year-on-year measure at 11.8%, data published on Thursday showed.

News of the surge, which leaves PPI at its highest level since December 2002, comes a day after Statistics South Africa, the government statistics agency, announced that CPIX inflation, the monetary-policy relevant measure, had hit 10.1% in March and heightens pressure on the South African Reserve Bank to hike rates.

"This is another hugely stron