Ghana Producer Price Index for October 2018 rises 

The month-on-month change in the Producer Price Index between September 2018 and October 2018 was 1.6 per cent, while the year-on-year inflation from the Producer Price Index (PPI) for October 2018 was 7.2 per cent, Mr Baah Wadieh, the Acting Government Statistician, announced this at a News conference in Accra on Wednesday.

The rate shows a 1.4 percentage point increase in producer inflation relative to the rate recorded in September 2018 (5.8 per cent).

Mr Wadieh said the manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 9.7 per cent, followed by the mining and quarrying sub-sector with 4.4 per cent.

He said the utilities sub-sector recorded the lowest year-on-year producer inflation of -0.1 per cent.

Touching on the monthly changes, the Acting Government Statistician said the manufacturing sector recorded the highest inflation rate of 2.1 per cent, followed by the mining and quarrying sub-sector with 1.1 per cent.

However, the utilities sub-sector recorded no change in the inflation rate.

Explaining the trends for the rate, he said in October 2017, the producer price inflation rate for all industry was 8.3 per cent and declined to 7.1 per cent in November 2017.

In December 2017, the rate increased to 8.7 per cent but decreased consistently to record 3.7 per cent in March 2018 and subsequently increased to 8.2 per cent in July 2018, but declined to 7.0 per cent in August 2018 and further to 5.8 per cent in September 2018.

Source: GNA