The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation(PPI) rate for April 2016 was 13.2%.
This rate indicates that, between April 2015 and April 2016 (year-on-year), the PPI increased by 13.2%. This rate represents a 1.1% point decrease in producer inflation relative to the rate recorded in March 2016 (14.3 %). The month-on-month change in producer price index between March and April 2016 was 1.7%.
Also the year-on-year producer inflation for all industry was 13.2% in April 2016; the monthly change rate was 1.7%.
The utilities sub-sector recorded the highest year-on-year producer price inflation rate of 37.1 %, followed by the manufacturing sub-sector with 12.0%. The mining and quarrying sub-sector recorded the lowest year-on-year inflation rate of -0.7%.
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The monthly changes in the producer price index indicated that manufacturing recorded the highest monthly change rate of 2.8%, followed by utilities sub-sector which remained unchanged. The mining and quarrying sub-sector recorded the lowest inflation rate of -0.2%.
According to deputy government statistician at the Ghana Statistical Service, Baah Wadieh, the decrease in the PPI is as a result of the decline in the utility and manufacturing sub sectors.
Mr. Baah Wadieh however, indicated that the improvement in the power sector is likely to lead to a further decrease in the PPI in subsequent months.
Credit: Ghana Statistical Service