Producer Inflation for September drops to 9.7%

Europa

October 26, 2016 2:26 PM

This rate represents 1.4 percentage point lower than the 11.1% rate recorded in August 2016.

Government Statistician, Philomina Nyarko

The Producer Price Inflation rate for September 2016 has dropped to 9.7%, the Ghana Statistical Service has said.This rate represents 1.4 percentage point lower than the 11.1% rate recorded in August 2016.

Changes in sector inflation

For mining and quarrying, the producer price inflation decreased by 6.2 percentage point over the August 2016 rate of 28.4 percent to record 22.2% in September 2016.

For manufacturing, the producer inflation decreased by 12.2 percentage points to record 1.3%.

According to the deputy government statistician Baah Wadieh, the utilities sub-sector recorded an inflation rate of 38.2% in September 2016 indicating an increase of 2.2 percentage point over the August 2016 rate of 36.0%.The utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.2 percent, followed by the mining and quarrying sub-sector with 22%.The manufacturing sub-sector recorded the lowest year-on-year inflation rate of 1.3%.He said the monthly changes in the producer price index indicated that the manufacturing sub-sector recorded the highest rate of 0.9% followed by the utilities sub-sector with 0.7%.

The mining and quarrying sub-sector recorded the lowest rate of 0.4%.Mr Baah Wadieh said the drop in rate for the mining and quarrying sub-sector and the manufacturing sector resulted in the September rate falling.

The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.

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