[ 2016-08-24 ]

Producer Price Inflation hits 10.3%
The year on year Producer Price Inflation (PPI)
for July has hit 10.3 %.

The PPI for July therefore increased by 2.7
percentage points compared to that recorded in
June (7.6 %).

Figures released by the Ghana Statistical Service
also indicate that the month-on-month change in
producer price index between June and July 2016
was 0.9 percent.

The GSS also revealed that the PPI for the mining
and quarrying sub-sector recorded the highest
increase of 30.3 percentage points over the June
2016 rate of 0.1 percent, to record 30.4 percent
in July 2016.

Meanwhile the producer inflation for
manufacturing, which constitutes more than
two-thirds of total industry, decreased by 2.7
percentage points to record 1.0 percent.

Also, the utilities sub-sector recorded an
inflation rate of 36.6 percent in July 2016
indicating a slight increase of 0.1 percentage
point over the June 2016 rate of 36.5 percent.

Manufacturing Sector

During the month of July 2016, thirteen out of the
sixteen major groups in the manufacturing
sub-sector recorded inflation rates higher than
the sector average of 1.0 percent.

Tanning and dressing of leather recorded the
highest inflation rate of 39.4 percent, while
manufacturing of coke, refined petroleum products
and nuclear fuel recorded the lowest producer
price inflation rate of -19.3%.

Trends

In July 2015, year-on-year inflation in ex-factory
prices of goods and services was 10.2 percent.

Subsequently, the rate declined to 2.9 percent in
October 2015.

However, it inched up slightly to record 3.0
percent in November 2015, and then increased to
11.0 percent in December 2015 and to 16.3 percent
in January 2016.

The rate decreased to 14.5 percent in February
2016 and continued its downward trend to record
11.2 percent in April 2016.

In May 2016, it dropped further to 11.0 percent
and then to 7.6 percent in June 2016, but
increased again to 10.3 percent in July, 2016.

Source - citibsinessnews.com

... go Back