Producer Inflation Drops To 3.7% In September

Producer Inflation Drops To 3.7% In September

Annual Producer Price Inflation (PPI) for the month of September was 3.7 per cent, showing a decrease of 0.2 percentage points over the revised 3.9 per cent recorded in August this year.

The month-on-month change in the producer price index between August and September 2015 was also 1.1 per cent.

The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.

Announcing the rate at a news conference in Accra Wednesday, the Government Statistician, Dr Philomena Nyarko, said the utilities sub-sector recorded the highest year-on-year producer price inflation rate of 7.2 per cent.

“The utilities sub-sector recorded an inflation rate of 7.2 per cent in September 2015, indicating a decrease of 1.2 percentage points over the August 2015 rate of 8.4 per cent,” she said.

The manufacturing sub-sector followed with 4.3 per cent while the mining and quarrying sub-sector recorded the lowest year-on-year inflation rate of -2.1 per cent.

“The producer price inflation in the mining and quarrying sub-sector decreased by 3.8 percentage points over the August 2015 rate of 1.7 per cent, to record -2.1 per cent in September 2015. Manufacturing, which constitutes more than two-thirds of total industry, increased slightly by 0.9 percentage points to record 4.3 per cent,” she explained.

Credit: GSS

 

Related news

Here are 10 of the most STRESSFUL jobs

Here are 10 of the most STRESSFUL jobs

Here are 10 of the most STRESSFUL jobs