January Producer Price Inflation increases to 16.3 percent

The Producer Price Inflation (PPI) increased to 16.3 percent in January 2016 from the 11.0 percent recorded in December 2015.That is a 5.3 percentage increase in the PPI the rate recorded in December 2015.

The month on month change between December 2015 and January 2016 was 3.3 percent.

The Producer Price Index measures the average change overtime in prices received by domestic producers for the production of their goods and services.

The monthly change in the producer price index shows that manufacturing recorded the highest monthly change rate of 4.3% followed by the mining and quarry sub- sector with 2.3% but the index for utilities sub-sector remained unchanged.

The Producer Price inflation in the mining and quarrying sub-sector decreased by 1.9 percentage points over the December 2015 rate of 4.8 percent, to record 2.9 percent in January 2016.

Manufacturing which constitutes more than two-thirds of total industry increased by 7.7 percentage points to record 11.4 percent.

The utilities subsector recorded an inflation rate of 56.6 percent in January 2016 and remained unchanged over the December 2015 rate.

By: Norvan Acquah-Hayford/citifmonline.com/Ghana