Ghana’s producer price inflation slows to 10.2% in April 2013

The Producer Price Inflation (PPI) fell to 10.2 per cent in April compared with 10.6 per cent in March, the Ghana Statistical Service said on Wednesday.

Dr Philomena Nyarko, the Acting Government Statistician, said fallen gold prices on the international market accounted for the fall in the index.

She said between April and July 2012, the PPI rose steadily, and thereafter, fluctuated until December.

She said from December 2012 to February 2013, the rate declined to 9.1 per cent but increased steadily to record 10.6 in March 2013, and subsequently declined to 10.2 this year.

Dr Nyarko said the manufacturing subsector recorded the highest year-on-year producer inflation rate of 14.4 per cent up from 14.1 in March.

Mining and quarrying fell by four percentage points to 2.4 per cent while the rate for the utilities sub-sector was unchanged at one per cent.

Source: GNA