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Inflation for January drops to 13.3%
Inflation for January drops to 13.3%

Producer price inflation rise to 13.0%


THE PRODUCER Price Index (PPI) that measures the average change over time in the prices received by domestic producers for the production of their goods and services for the month of December 2019 went up to 13.0%.

The PPI and corresponding inflation rates are presented for all industries with a breakdown for three major sub-sectors, namely mining and quarrying, manufacturing and utilities.

The rate for December is 3.1 percentage point increase in producer inflation relative to the rate recorded in November 2019 with 9.9%.

Mrs Araba Forson, Deputy Government Statistician of Ghana Statistical Service, at a press briefing in Accra, explained that the monthly change in producer price index between November 2019 and December 2019 was 1.5%.

For mining and quarrying, she said the producer inflation rate decreased by 0.2 percentage point over the November 2019 rate of 33.9% to record 33.7% in December 2019.

He added that for manufacturing, which constitutes more than two-thirds of total industry, increased by 4.3 percentage points to record 8.8%.

“During the month of December 2019, five out of the 16 major groups in the manufacturing sub-sector recorded inflation higher than the sector average of 8.8%,” he explained.

The Statistician added that manufacture of machinery and equipment not else classified recorded the highest inflation rate of 24.7%, while manufacture of wood and of products of wood and cork recorded the least inflation rate of 0.8%.

He also explained that the utilityies sub-sector recorded inflation rate of 12.8% for December 2019, indicating a slight increase of 0.2 percentage point over the November 2019 rate of 12.6%.

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