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%.

READ ALSO: DKM customers in Upper East committing suicide

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.

Related news

14 reasons why most Ghanaians will remain poor for the rest of their lives

14 reasons why most Ghanaians will remain poor for the rest of their lives

14 reasons why most Ghanaians will remain poor for the rest of their lives