Producer Price Inflation for July is 10.6 per cent

The year- on- year producer inflation for all industries in July 2015 was 10.6 per cent compared with 23.1 per cent in June, Dr Philomina Nyarko, the Government Statistician said on Wednesday.

Speaking during a news conference to announce the Producer Price Index (PPI), Dr Nyarko said the rate for July represented a decline of 12.5 percentage point relative to the rate recorded in June 2015.

Mrs Nyarko said the manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 13.5 per cent, followed by the utilities sub-sector with 7.3 per cent.

“The mining and the quarrying sub-sector recorded the lowest year-on-year inflation rate of 1.5 per cent,” she said.

She said the monthly changes in the producer price index indicated that manufacturing recorded the highest inflation rate of 3.1 per cent, followed by the utilities sub-sector with 0.1 per cent.

She explained that the mining and the quarrying sub-sector recorded the lowest producer inflation rate of -18.3 per cent.

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

The PPI for Ghana reports the producer price indices with reference to September 2006, the base period.

This release shows the producer price changes since October 2006, as well as the annual (year-on-year) and monthly inflation rates, for all industry and three major sub-sectors of industry which are mining and quarrying, manufacturing and the utilities which include electricity and water.

Source: GNA