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Producer inflation jumps to 9.9%

The Producer Price Index (PPI) inched up by 1.0% to 9.9% in November 2019, according to the Ghana Statistical Service.

The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.

The month-on-month change in the PPI between October 2019 and November 2019 was 0.3%.

Manufacturing of goods was the major cause of the increase.

The producer inflation for manufacturing, which constitutes more than two-thirds of the total industry, increased by 1.4 percentage points to 4.5%.

During the month of November 2019, eight out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 4.5%.

The manufacturing of machinery and equipment recorded the highest inflation rate of 24.7% while the manufacture of coke, refined petroleum products and nuclear fuel recorded the least inflation rate of -1.7%.

However, the utility sub-sector recorded an inflation rate of 12.7% for November 2019, indicating a slight increase of 0.1 percentage point over the October 2019 rate of 12.6%.

by: Isaac Otoo

About Isaac Otoo

News Anchor News Reporter TV Host www.adoanewsonline.com

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