November Producer Price Inflation hits 11.9 %

December 29, 2016
Source: Norvan Acquah - Hayford/thebftonline.com/Ghana
November Producer Price Inflation hits 11.9 %

November 2016, Producer Price Inflation (PPI) has moved up to 11.9% from the 9.7% recorded in the month of October 2016.

The increase represents an upward adjustment of 2.2%. However, the monthly change rate was 1.2 percent.

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

The Utilities sub-sector recorded the highest year-on-year  producer price  inflation rate  of  38.3  percent, followed by  the  Mining and  Quarrying  sub-sector with  19.4  percent. 

The Manufacturing sub-sector recorded the lowest year-on-year producer inflation rate of 4.9 percent.

With respect to the monthly changes, the Manufacturing  sub-sector recorded  the highest  rate of  2.1  percent followed  by  utilities  sub-sector with 0.1  percent. 

The Mining and Quarrying sub-sector recorded the lowest rate of -1.6 percent. 

Acting Government Statistician, Baah Wadieh who announced the figures in Accra stated that ten out of the sixteen major food groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 4.9 percent.

The producer price  inflation in  the  Mining and Quarrying sub-sector  increased by  4.7  percentage points over  the  October  2016  rate of  14.7  percent to record  19.4  percent in  November  2016.

The producer inflation for    Manufacturing,    which constitutes more than two-thirds of total industry, increased by  1.9  percentage points to record  4.9 percent.

The Utilities  sub-sector   recorded an inflation rate of 38.3 percent in November 2016 indicating a slight increase of 0.1 percentage point over the October 2016 rate.