The Ghana Statistical Service (GSS) has announced that the producer price inflation in the Mining and Quarrying sub-sector decreased by 7.3 percentage points over the June 2021 rate of 9.5 percent to record 2.2 percent in July 2021.
The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, decreased by 0.8 percentage points to record 12.0 percent.
The utility sub-sector recorded 0.1 percent inflation rate for July 2021.
The Producer Price Inflation rate for July 2021 was 8.4 percent. This rate indicates that between July 2020 and July 2021 (year-on-year), the PPI increased by 8.4 percent.
This rate represents a 1.7 percentage point decrease in producer inflation relative to the rate recorded in June 2021 (10.1%). The month-on-month change in producer price index between June 2021 and July 2021 was 0.1 percent.
The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services. The PPI for Ghana reports the producer price indices with reference to September 2006, the base period.
This release shows the annual (year-on-year) and monthly producer inflation rates for all industry and three major sub-sectors of industry (Mining and Quarrying, Manufacturing and Utilities) for the last twelve months. The figures for July 2021 are provisional and are subject to revision when additional data become available. All other indicators are final
By Laud Nartey|3news.com|Ghana