Business

PPI for September drops to 9.7%

rate down
 The Producer Price Inflation rate for September 2016 has dropped to 9.7%, that’s 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.
This rate represents 1.4 percentage point lower than the 11.1% recorded in August 2016.
The manufacturing sector, which constitutes more than two-thirds of total industry, recorded a drop by 12.2 percentage points to peg at 1.3%.
The producer price inflation in the mining and quarrying sub-sector decreased by 6.2 percentage point over the August 2016 rate of 28.4 percent to record 22.2% in September 2016.
Deputy Government Statistician, Baah Wadiah attributed the drop to the fallen rates in the mining, quarrying sub-sector and the manufacturing sector
“The slight drop in all sector from 11.1 to 9.7 percent is as a result of fallen rates in the mining, quarrying sub sector and the manufacturing sector,” he explained.
The utilities sub-sector recorded an inflation rate of 38.2% in September 2016 indicating an increase of 2.2 percentage point over the August 2016 rate of 36.0%.
The utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.2 percent, followed by the mining and quarrying sub-sector with 22%.
The manufacturing sub-sector recorded the lowest year-on-year inflation rate of 1.3%.
By Grace Asare |3FM|3news.com

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