BusinessTop Story

Producer Price Inflation in December rises to 8.9 percent

Ghana’s producer price inflation rose to 8.9 percent year-on-year in December from 7.1 percent in November on petroleum prices, the Ghana Statistics Service office said on Wednesday.

The monthly change rate was 0.9 percent.

Petroleum inflation rose to 36.4 percent from 27.7 percent in November, the Deputy Government statistician Mr Anthony Amuzu said.

The mining and quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 19.1 percent from 14.4 percent in November, while manufacturing rose to 8.8 percent, an increase of 1.6 percentage points higher, from 7.2 percent.

Utilities inflation for December 2017 was 0.1 percentage points lower at 0.4 percent from November’s rate of 0.5 percent.

With respect to the monthly changes, Manufacturing recorded the highest rate of 1.5 percent.

The Utilities sub-sector recorded no change while the Mining and quarrying sub-sector recorded the lowest rate of -0.6 percent.

Source: GNA | Ghana

Facebook Comments