Business News of Wednesday, 21 August 2019
Source: citibusinessnews.com
2019-08-21
Deputy Government Statistician, David Kombat
The Producer Price Index rose to 8.8 percent in July 2019.
This represents an increase of 1.7 percentage points from the 7.1 percent recorded in June.
The PPI measures the average cost at which producers manufacture products.
According to Deputy Government Statistician, David Kombat, the increase in the PPI for July was driven largely by the Mining and Quarrying sector.
For the year-on-year inflation, the Mining and Quarrying sector recorded the highest inflation of 27.6% in July.
It was followed by utility subsector with inflation of 6.9% with manufacturing recording the lowest inflation of 5.4%.
With respect to the monthly changes, Utilities recorded the highest inflation rate of 5.9 percent, followed by Mining and quarrying sub-sector with 4.8 percent.
The Manufacturing sub-sector recorded the lowest inflation rate of 0.3 percent.
