The Monthly Change rate for September 2015 however recorded an appreciation to 1.1 percent from the revised -3.8 percent for the previous month.
Philomena Nyarko, government statistician, told the media that although utilities recorded a 1.2 percentage point reduction to 7.2 percent inflation in September, relative to the 8. 4 percent in August, it still recorded the highest inflation in all industry.
Mining and quarrying decreased by -3.8 percentage points in September 2015 to record an inflation rate of -1.2 percent, relative to the 1.7 percent for August.
“However, the manufacturing sector was the only one that recorded an increase of 0.8 percent to record an inflation rate of 4.3 percent relative to the 3.5 percent for August,” the Government Statistician said.
On why the PPI fell from a height of about 48.3 percent in August last year to as low as 3.7 percent last month, Nyarko explained that the collapse of commodity prices on the global stage was the main factor.
Ghana’s PPI is heavily influenced by mining and quarrying as gold constitutes nearly 88 percent of the mining sector, hence the fortunes of gold prices on the global stage influences the pattern of the PPI locally.
Head of Industrial Statistics Anthony Kraka said part of the inflation, including utility inflation, would affect production cost, while the drop in inflation for sectors such as mining and quarrying and manufacturing would also affect the incomes of industry. Enditem