Ghana’s Producer Price Index (PPI) rose by 4.6 percentage points to record a producer inflation of 6.6 percent in August compared to 2.0 percent in July, Ghana Statistical Service (GSS) said Wednesday.
PPI measures the rate of increase over time in prices received by domestic manufacturers for the production of their goods and services
The mining and quarrying sub-sector recorded the highest year-on-year inflation rate of 8.3 percent, followed by the manufacturing sector with 7.5 percent, with the utilities sub-sector remaining unchanged at 1.3 percent.
“The increase in PPI from 2.0 percent year-on-year in July 2017 to 6.6 percent year-on-year in August 2017 was due to the increases in the inflation for the manufacturing sector, which was mainly due to the rise in petroleum prices and the mining and quarrying sub-sectors,” said Baah Wadieh, Acting Government Statistician. Enditem
Source: Xinhua/NewsGhana.com.gh
