Producer inflation drops to 14.5 in Feb

Producer inflation for the month of February fell by 14.5 from January's 16.3 with lower utilities prices accounting for the drop, according to the latest data from Ghana Statistical Service (GSS).

"The push-down factor was mainly lower utilities prices, which recorded (substantially more) stability in February than we saw a year ago," GSS boss Philomena Nyarko told a news conference.

The utility sector recorded year-on-year producer inflation of 43.9 percent from last month's 56.6 percent. Mining and quarrying recorded inflation of 8.6 percent, up from January's 7.8 percent. PPP in manufacturing was 9.8 percent compared with 0.2 percent last month.

Inflation fell to 18.5 percent in February from 19.0 percent the month before.