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.