The Producer Price Inflation rate for July 2019 was 8.8 per cent, the Ghana Statistical Service (GSS), has announced.
This rate, according to the GSS, indicates that between July 2018 and July 2019 (year-on-year), the PPI increased by 8.8 per cent.
This rate represents a 1.7 percentage point increase in producer inflation relative to the rate recorded in June 2019 (7.1%).
The month-on-month change in producer price index between June 2019 and July 2019 was 1.9 per cent
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 per cent to record 27.6 per cent in July 2019. The producer inflation for manufacturing, which constitutes more than two-thirds of total industry, increased by 0.1 percentage points to record 5.4 per cent.
The utility sub-sector recorded inflation rate of 6.9 per cent indicating an increase of 5.8 percentage points over the rate recorded in June 2019.
In July 2018, the producer price inflation rate for all industry was 8.2 per cent but declined continuously to 5.8 per cent in September 2018. In October 2018, the rate increased to 7.2 per cent but declined consistently to 3.4 per cent in January 2019.
The rate resumed its upward trend to record 7.1 per cent in April 2019 but declined to 6.7 per cent in May 2019. However, the rate increased to 7.1 per cent in June 2019 and then to 8.8 per cent in July 2019.
Ghana | Atinkaonline.com