Ghana’s producer price inflation falls to 16.6% in August 2012

The Producer Price Index fell to 16.6 percent in August 2012 compared to 19 percent in July, the Ghana Statistical Service said on Wednesday.

Dr Philomena Nyarko, Acting Government Statistician, said the August rate decreased by 2.4 percentage points while monthly producer prices rose by 0.3 percent from 1.5 percent in July 2012.

Dr Nyarko said producer inflation in the mining and quarrying sector slowed to 16.9 percent, a 10.1 percentage points decrease over the July Rate of 27 percent.

Manufacturing, which constituted more than two-thirds of total industry eased to 18.6 percent from 20 percent in July while the utilities sector decreased by 0.1 percentage points to 10.5 percent in August.

Source: GNA