Ghana Producer Price Inflation falls to 19% in May

The Producer Price Inflation (PPI) rate for May 2015 slowed to 19 per cent from a revised 19.5 per cent in April, Dr Philomena Nyarko, the Government Statistician announced on Wednesday.

The month-on-month change in producer price index between April and May was 0.8 per cent.

Mining and quarrying, and manufacturing, which constitute more than two-thirds of total industries as well as utilities, were the main drivers of the reduction.

The producer price index measures the average change over time in the prices received by domestic producers for the production of their goods and services.

Ghana’s PPI reports the producer price indices with reference to September 2006 as the base period.

The producer inflation for all industry was 19.0 per cent in May 2015, whiles the monthly change rate was 0.8 per cent.

The mining and quarrying sub- sector recorded the highest annual producer price inflation rate of 25.4 per cent, followed by the utilities sub-sector with 20.6 per cent.

The manufacturing sub-sector registered the lowest inflation rate of 16.8 per cent.

The monthly changes in the producer price index indicated that mining and quarrying recorded the highest rate of 2.0 per cent, followed by the manufacturing sub-sector with 0.8 per cent.

The utilities sub-sector recorded the lowest rate of 0.1 per cent.

Source: GNA