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Producer Price Inflation for April is 7.1 per cent

The producer price inflation for April 2019 was 7.1 percent representing a change rate of 0.9 per cent. The PPI measures the average change over time in the prices received by domestic producers for their goods and services.


Addressing a news conference in Accra, Wednesday, Government Statistician, Prof Samuel Kobina Anim indicated that the year-on-year producer price inflation rate in the mining and quarrying sub-sector decreased by 3.6 percentage points from the March rate of 15.9 percent to record 12.3 percent for April 2019.


‘Manufacturing which constitutes more than two-thirds of the total industry increased by 0.7 percent points to record 7.5 percent, while the utility sub-sector recorded inflation rate of 1.1 percent indicating an increase of 0.3 percent point than the rate recorded in March 2019,’ he added.


He observed that the producer price inflation for the petroleum sub-sector was 22.7 percent in April 2018 and that of April 2019 was 17.2 percent.


With respect to the monthly changes, Prof Anim stated that manufacturing recorded the highest inflation rate of 1.9 percent, followed by utility sub-sector with 0.8 percent, while the mining and quarrying sub-sector recorded the lowest inflation rate of -2.5 percent.

 

Source: ISD (Chantal Aidoo)

 

Created: 23 May 2019
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