PPI on the rise

PPI on the rise

The year-on-year producer inflation for all industry has hit 10.3% in July 2016; the monthly change 1.0% rate was 0.9% compared to the 7.6% recorded in June.

The utilities sub-sector recorded the highest year-on- year producer price inflation rate of 36.6% followed by the mining and quarrying sub-sector with 30.4%. The manufacturing sub-sector recorded the lowest year-on-year inflation rate of 1.0%.

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The monthly changes in the producer price index indicated that mining and quarrying recorded the highest monthly change rate of 6.4 %, followed by the utilities sub-sector with 0.1%. The manufacturing sub-sector recorded the lowest inflation rate of -0.2%.

Meanwhile, speaking at a press conference in Accra, Government Statistician, Dr  Philomena Nyarko attributed the rise to the increase in the PPI for Mining and Quarrying.

Source: Yen.com.gh

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