Ghana’s Producer Price Inflation for July increases to 8.8%

Ghana’s Producer Price Inflation for July increases to 8.8%

The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation (PPI) rate for July 2019 was 8.8%.
   
   
   
       
       
           
               
                   

The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation (PPI) rate for July 2019 was 8.8%.

               
           
               
                   

According to GSS, this indicated that between July 2018 and July 2019 (year-on-year), the PPI increased by 8.8%.

               
           
               
                   

This represents a 1.7 percentage point increase in producer inflation relative to the rate recorded in June 2019 (7.1%).

               
           
               
                   

The month-on-month change in producer price index between June 2019 and July 2019 was 1.9 per cent

               
           
               
                   

The PPI in the mining and quarrying sub-sector increased by 5.2 percentage points over the June 2019 rate of 22.4 percent to record 27.6% in July 2019. The producer inflation for manufacturing, which constitutes more than two-thirds of total industry, increased by 0.1 percentage points to record 5.4%.

               
           
               
                   

The utility sub-sector recorded inflation rate of 6.9% indicating an increase of 5.8 percentage points over the rate recorded in June 2019.

               
           
               
                   

In July 2018, the producer price inflation rate for all industry was 8.2% but declined continuously to 5.8% in September 2018. In October 2018, the rate increased to 7.2% but declined consistently to 3.4% in January 2019.

               
           
               
                   

Since then, the rate resumed its upward trend to record 7.1 percent in April 2019 but declined to 6.7% in May 2019. However, the rate increased to 7.1% in June 2019 and then to 8.8% in July 2019.

Source: Ghana’s Producer Price Inflation for July increases to 8.8%

- gist culled from pulseng