Business News of Friday, 18 October 2019
The producer inflation rate in the mining sector grew by 0.6 percent in September 2019, the Ghana Statistical Service (GSS), has announced.
The GSS in a statement said: “The producer price inflation in the Mining and Quarrying sub-sector increased by 0.6 percentage points over the August 2019 rate of 36.5 percent to record 37.1 percent in September 2019. The producer inflation for Manufacturing which constitutes more than two-thirds of total industry decreased by 0.9 percentage points to record 4.9 percent. The utilities sub-sector recorded 0.1 percentage points increase over the August 2019 rate of 6.8 percent.
The producer inflation rate in the petroleum subsector was 31.1 percent in September 2018, The Ghana Statistical Service (GSS), has announced. The rate increased to 36.1 percent in September 2018, but decreased sharply to record 3.8 percent in January 2019. The rate increased consistently to record 17.2 percent in April 2019, but it however decreased again to 1.2 percent in June 2019.
“However, it increased consistently to 3.1 percent in August 2019 but decreased again to 0.7 percent in September 2019.
“The year-on-year producer inflation for all industry was 9.7 percent in September 2019; the monthly change rate was 0.1 percent.
“The Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 37.1 percent, followed by Utilities sub-sector with 6.9 percent. The Manufacturing sub-sector recorded the lowest year-on-year producer inflation of 4.9 percent.
“With respect to the monthly changes, Mining and quarrying recorded the highest inflation rate of 1.9 percent, followed by utilities sub-sector which recorded no inflation rate. The manufacturing subsector recorded the lowest inflation of -0.3 percent.”