Ghana’s Producer Price Inflation for September declines to 16.98% on manufacturing

The Annual Producer Price Index (PPI), which measures the average change over time in the prices received by domestic producers has been falling slightly to 16.98 per cent since September last year.

Ebo Duncan, Head of Economic Statistics, said the monthly change was 0.18 per cent over the 18.03 recorded in August.

The manufacturing sector, which has the biggest share of 69.75 per cent, of all industry, saw a slight dip in inflation to 5.81 percent from 7.38 per cent in August.

On the other hand, the mining and quarrying sector with 13.97 per cent share of all industry, recorded an annual inflation rate of 18.81 per cent, down from 20.17 per cent in the previous month.

Annual inflation continues to rise in the utilities sector. The sector, which includes production, transmission and distribution of electricity, collection and distribution of water, registered a slight increase in the rate to 71.32 per cent compared to 71.14 per cent in August.

Mr Duncan said ten out of the sixteen major groups in the manufacturing sector recorded inflation rates higher than the manufacturing sector average.

Manufacture of machinery and equipment recorded the highest inflation rate of 37.02 per cent.

Source: GNA