PPI for mining and quarrying decreased by 7.3 percentage points – GSS

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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