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Producer Inflation drops to 3.1 percent in January 2017
The Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 18.6 percent, followed by the Manufacturing sub-sector with 2.4 percent.
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This is lower than the rate recorded in December 2016 which was 4.9 percent.
The Utilities sub-sector recorded the lowest year-on-year inflation rate of -6.8 percent.
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Acting Government Statistician, Baah Wadieh explained that the decrease in inflation was because of the declining inflation in the manufacturing and utility sub-sectors.
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“The decline in the Producer Price Inflation rate was mainly due to the decline in the inflation rate for the manufacturing and utilities sub-sectors.”
With respect to the monthly changes, the Mining and Quarrying recorded the highest rate of 4.9 followed by manufacturing sub-sector with 2.0 percent.
The Utilities sub-sector recorded the lowest rate of 0.2 percent.
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The monthly change rate for January 2017 was 2.1%.
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