Producer price inflation falls to 4.4 per cent in August

The year-on-year inflation from the producer’s perspective for all industry was 4.4 per cent in August 2015, representing a 5.8 percentage points decline from the 10.2 per cent recorded in July 2015.

The monthly change rate for August 2015 was -3.4 per cent.

“This means that compared to July 2015, the Producer Price Inflation decreased by 3.4 per cent in August 2015,” Dr Philomena Nyarko, Government Statistician, said at a press conference on Wednesday.

Dr Nyarko attributed the drop to the fall in petroleum prices during the review period.

The utilities sub-sector recorded the highest year-on-year producer price inflation rate of 8.4 per cent, followed by the manufacturing sub-sector with 4.1 per cent.

The mining and quarrying sub-sector recorded the lowest year-on-year inflation rate of 1.7 per cent.

With respect to the monthly changes, mining and quarrying recorded the highest inflation rate of 1.4 per cent, followed by the utilities sub-sector with 0.4 per cent.

The manufacturing sub-sector recorded the lowest rate of -5.3 per cent.

Source: GNA