Producer inflation plunges 3.7 percentage points in Ghana

The June 2016 Producer Inflation declined 3.7 percentage points to 7.6 percent, relative to the 11.0 revised Producer Price Index ( PPI) for the previous month, the Ghana Statistical Service (GSS) stated here on Wednesday.

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The month-on-month change in the PPI for the period between May 2016 and June 2016 was also 1.2 percent, relative the 0.6 percent recorded between the period April 2016 and May 2016, Government Statistician Philomena Nyarko said.

inflation
inflation
The decline was occasioned by the 5.1 percentage point decrease in manufacturing, the largest industry sector with 69.75 percent share in all industry to 3.7 percent.

In addition, the utilities group, with 16.28 percent share in all industry, also experienced a slight drop of 0.5 percentage points to 36.5 percent in June 2016, compared with the 37.0 percent recorded in May 2016,” Nyarko stated.

Mining and quarrying, with 13.97 percent share in all industry, on the other hand recorded an increase of 1.5 percentage points to record an inflation rate of 0.1 percent during the month under review, compared with the -1.4 percent recorded in the previous month. Enditem

Source: Xinhua/News Ghana

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