Latest details from GSS shows Producer Price Inflation has increased to 7.4 percent
- According to the Ghana Statistical Service (GSS), the Producer Price Inflation (PPI) for April 2020 increased to 7.4%
- It increased from 6.8% in March and the increase has been attributed to changes in the price of gold
- The producer inflation rate in the petroleum sector declined to -15.3% in April 2020
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The Ghana Statistical Service (GSS) has revealed that the Producer Price Inflation (PPI) for April 2020 increased to 7.4%.
This is a 0.6% point increase compared to the March 2020 rate which was recorded as 6.8%.
The PPI is a measure of the average change over time in the prices received by domestic producers for the production of their goods and services.
Source: UGC
READ ALSO: Economy grew by 6.5% in 2019 - Ghana Statistical Service
Per a report by citibusinessnews.com, the GSS explained the increase recorded for April 2020 was due to the changes in the price of gold.
The government statistician, Prof. Samuel K. Annim, added that the mining and quarrying sub-sector recorded the highest year on year producer price inflation rate of 38.0% followed by utility sub-sector with 12.1 %, while the manufacturing sub-sector recorded the lowest year on year producer inflation of 0.5%.
With regard to the monthly changes, mining and quarrying sub-sector recorded the highest inflation of 8.9% followed by the manufacturing sub-sector, 0.3% and the utility sub-sector recording the lowest rate of 0.1%.
The producer inflation rate in the petroleum sector, however, declined to -15.3% in April 2020.
In an earlier report, YEN.com.gh reported that Ghana’s annual Consumer Price Inflation (CPI) increased to 10.6% in April from 7.8% in March 2020.
The increase, per information available, was as a result of higher food prices in areas affected by the partial lockdown imposed by the government.
This was contained in a report released by the Ghana Statistical Service (GSS) on Wednesday, May 13, 2020.
READ ALSO: Informal sector records lowest GDP in 6 years
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