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Ghana’s Producer Price Inflation for November dropped to 6.5% as compared to 7.2% in October

Berlinda Entsie

December 20, 2018 12:12 PM

Ghana had a drop in the Producer Price Inflation for November this year.

Acting Government Statistician, Baah Wadieh

The recorded drop was 6.5 per cent, a 0.7 percentage point decrease relative to the 7.2 per cent recorded in October.

The Acting Government Statistician, Baah Wadieh made this revelation.

He credited the drop to the decrease in the inflation rate of petroleum as well as food products.

The Producer Price Inflation measures the average change over time in prices for the production of goods and services.

According to Mr Wadieh, the manufacturing sub-sector recorded the highest year on year producer price inflation rate of 8.6 per cent followed by the Mining and Quarrying subsector with 4.7 per cent, adding that, the utility sub-sector recorded the lowest year on year producer inflation of negative 0.1 per cent.

Three out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 8.6 per cent.

Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 30.6 per cent all within the month of November.

Meanwhile, manufacturing of machinery and equipment recorded no change.