The Ghana Statistical Service says “the year-on-year producer inflation for all industry was 6.5 percent in November 2018; the monthly change rate was -0.6 percent.
This rate indicates that, between November 2017 and November 2018, (year-on-year), the Producer Price Inflation, (PPI), increased by 6.5 percent.
This rate represents a 0.7 percentage point decrease in producer inflation relative to the rate recorded in October 2018 (7.2%).
The month-on-month change in producer price index between October 2018 and November 2018 was -0.6 percent.
Acting Government statistician, of the Ghana Statistical Service (GSS), Baah Wadieh at news conference in Accra, said: “The Manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 8.6 percent, followed by the Mining and Quarrying subsector with 4.7 percent. The Utilities sub-sector recorded the lowest year-on-year producer inflation of -0.1 percent”.
With respect to the monthly changes, mining and quarrying recorded the highest inflation rate of 0.4 percent, followed by Utilities the sub-sector with 0.0 percent.
The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services. The PPI for Ghana reports the producer price indices with reference to September 2006, the base period.
This release shows the annual (year-on-year) and monthly producer inflation rates for all industry and three major sub-sectors of industry (Mining and Quarrying, Manufacturing and. Utilities) for the last twelve months. The figures for the month of November 2018 are provisional, and are subject to revision when additional data become available.
Story by Edzorna Mensah
