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Tuesday, August 16, 2022

Producer Price Inflation unchanged at 7.1% in April

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The Producer Price Inflation was unchanged at 7.1 per cent in April, the same as the rate for March 2019.

The monthly change rate was 0.9 per cent, Government Statistician, Professor Samuel Annim announced at a media briefing on Wednesday.

He said the year-on-year producer price inflation rate in the Mining and Quarrying sub-sectors fell by 3.6 per cent in April to 12.3 per cent from the 15.9 per cent recorded in March.

The rate in the manufacturing sub-sector, which constitutes more than two-thirds of total industry, increased by 0.7 percentage points to 7.5 per cent.

The Utilities sub-sector recorded the lowest year-on-year producer inflation of 1.1 percent, an increase of 0.3 percentage points over the rate recorded in March.

With respect to the monthly changes, manufacturing recorded the highest rate of 1.9 per cent, followed by the Utilities sub-sector with 0.8 per cent.

The mining and quarrying sector recorded the lowest inflation rate of negative 2.5 per cent.

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