Business and Economics

Producer Price Inflation jumps to 8.8 per cent in July

Accra, Aug 21, GNA -The Producer Price Inflation rate for July 2019 was 8.8 percent, up 1.7 percentage points from 7.1 per cent recorded in June 2019, the Ghana Statistical Service said on Wednesday.

The month-on-month change in producer price index between June 2019 and July 2019 was 1.9 percent.

Mr David Kombat, Deputy Government Statistician, said the producer price inflation in the Mining and Quarrying sub-sector increased by 5.2 percentage points over the June 2019 rate of 22.4 percent to record 27.6 percent.

Manufacturing, which constitutes more than two-thirds of total industry increased by 0.1 percentage points to record 5.4 percent.

The utilities sub-sector recorded inflation rate of 6.9 percent indicating an increase of 5.8 percentage point over the rate recorded in June 2019.

During the month of July 2019, seven out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 5.4 percent.

Manufacture of machinery and equipment recorded the highest inflation rate of 24.7 percent, while Tanning and dressing of leather recorded inflation rate of 0.0 percent.

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