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Producer price inflation for March 2020 declines to 6.8%

Magdalene Teiko Larnyoh

April 22, 2020 5:01 PM

The Ghana Statistical Service (GSS) has said that the Producer Price Inflation (PPI) rate for March 2020 was 6.8%.

Producer Price Inflation for March down by over 3%

This is a 3.7 percentage point decrease in PPI compared to February 2020’s rate of 10.5%.

This rate also indicated that between March 2019 and March 2020 (year-on-year), the PPI increased by 6.8%.

The PPI in the mining and quarrying sub-sector decreased by 2.4 percentage points over the February 2020 rate of 26.1% to record 23.7% in March 2020.

The producer inflation for Manufacturing which constitutes more than two-thirds of the total industry also decreased by 4.7 percentage points to record 2.1%.

The utility sub-sector saw an inflation rate of 12.2% for March 2020. This is a decrease of 0.1 percentage point over the February 2020 rate of 12.3%.

Ten out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 2.1%.

The manufacture of machinery and equipment recorded the highest inflation rate of 24.7%. Meanwhile, the manufacture of coke, refined petroleum products, and nuclear fuel recorded reduced inflation of -9.6%.