Producer price index for October 2019 decrease by 8.9%

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The producer price inflation rate for October 2019 was 8.9%.

This rate indicates that between October 2018 and October 2019 year-on-year, the PPI increased by 8.9%.

This rate represents a 0.2% decrease in producer inflation relative to the rate recorded in September 2019 (9.1%).

The Month-on-month change in producer price index between September 2019 and October 2019 was 1.4%.

This was announced at a press conference at the Ghana statistical Service census secretariat by the deputy government statistician, Mr. David Kombat.

Mr. David Kombat explained the producer price inflation in the mining and quarrying sub-sector decreased by 2.7% over the September 2019 rate of 37.1% to record 34.4% in October 2019.

The producer inflation for manufacturing which constitutes more than two-thirds of total industry decreased by 0.1% to record 3.1%, whiles the utilities sub-sector recorded inflation rate of 12.6% for October 2019 indicating  increase rate of 5.8% points over the September 2019 rate of 6.8%.

Ghana | | Maame Nyarkoa