Ghana’s producer price inflation rises to 19.6% in October 2012

The year-on-year inflation from the producer’s perspective (PPI) for all industry for October was 19.6% compared with 16.8 percent in September, the statistical office announced on Wednesday.

The rate is 2.8 percentage points higher than that for September 2012.

“That is, ex-factory prices of goods for all industry increased on average by 19.6 percent in October 2012 relative to the price level recorded in October 2011,” Mr Baah Wadieh, Acting Deputy Government Statistician told journalists in Accra.

The monthly change rate was 1.1 percent. This means that compared to September 2012, the PPI increased by 1.1% in October 2012.

On sector basis, the producer inflation rate for mining and quarrying increased by 11.3 percentage points to 30.8 percent relative to the rate of 19.5 percent recorded in September.

The rate for Manufacturing rose 1.7 percentage points to 22.2 percent while the utilities sector witnessed 0.1 percentage points decline to 2.9 percent compared to September.

Source: GNA