CHAMBERS MARKET

PRODUCER PRICE INFLATION RATE FOR DECEMBER DIPS TO 4.4 PER CENT  

The Producer Price Inflation was represented by a decrease of 2.1 per cent as 6.5 per cent was recorded in November 2018 which then fell in December 2018 to 4.4 per cent.


As announced on Wednesday in Accra by Mr David Kombat, the Head of Publicity and Education, Ghana Statistical Service at a press briefing, between the months of November 2018 and December 2018 there was a change of 1.2 per cent, in producer price index.


In the Mining and Quarrying sub-sector, the highest year-on-year producer price inflation rate of 8.5 per cent was recorded, followed by manufacturing sub-sector with 4.5 per cent, he said.

However, the lowest year-on-year producer inflation of -0.1 per cent was recorded at the Utility sub-sector.

Regarding monthly changes, Mr Kombat said followed by the utilities sub-sector with 0.0 per cent, the mining and quarrying sector recorded the highest inflation rate of 2.9 per cent.

The manufacturing sub-sector recorded the lowest inflation rate of -2.4 per cent.

Mr Kombat addressed the trends for the rate saying the producer price inflation rate for all industry was 8.7 per cent in December 2018. There was a consistent decrease to 3.7 per cent in March 2018 till it subsequently increased to 8.2 per cent in July 2018, but decreased to 7.0 per cent in August 2018.

In September 2018, the rate further decreased to 5.8 per cent and increased to 7.2 per cent in October 2018 but the rate declined to 6.5 per cent in November 2018.

Source: www.peacefmonline.com


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