Producer Price Inflation up 23.14 per cent in January

    0
    6

    The Ghana Statistical Service (GSS) on Wednesday said the Producer Price Inflation (PPI) for January rose to 23.14 per cent from 17.79 per cent in December, 2010.

    The all industry monthly inflation is 5.90 per cent with specific industries such as mining and quarrying sector recording a monthly change of -0.41 per cent in January, while the manufacturing sector recorded 8.3 per cent followed by the utilities 0.01 per cent.

    On year-on-year basis, inflation rate for the three sectors, the utilities recorded the highest inflation rate of 71.81 per cent, while the mining and quarrying sector recorded 25.99 per cent and the manufacturing sector recording 11.41 per cent.

    Mr Ebo Duncan, Head of Economic Statistics, said there was a big jump in inflation in the petroleum industry in January after a decline in November last year.

    In January, inflation in the petroleum industry jumped to 23.39 per cent.

    He said five out of the 16 major groups in the manufacturing sector recorded inflation rates higher than the manufacturing sector average of 11.41 per cent.

    Manufacture of electrical machinery and apparatus recorded the highest inflation rate 47.71 per cent, whiles manufacture of wood, wood products and cork recorded negative inflation rate of 2.64 per cent.

    Source: GNA

    Read this article:
    Producer Price Inflation up 23.14 per cent in January