Producer Price Inflation Records 13%

Araba Forson, Deputy Government Statistician

THE YEAR-on-year inflation from the producer’s perspective for all industry was 13.0% in December 2019.

The rate is 3.1 percentage points higher than the rate of 9.9% recorded
in November last year.

The monthly change rate for December 2019 also recorded 1.5%.

Araba Forson, Deputy Government Statistician, who announced this to
journalists in Accra, said the monthly change rate for December 2019 was 1.5%.

The Mining
and Quarrying sub-sector recorded the highest year-on-year producer price
inflation rate of 33.7 per cent, followed by Utilities sub-sector with 12.8 per
cent.

The
manufacturing sub-sector recorded the lowest year-on-year producer inflation of
8.8 per cent.

With respect
to the monthly changes, Mining and Quarrying sub-sector recorded the highest
inflation rate of 2.8 per cent, followed by manufacturing sub-sector with 1.6
per cent. The Utilities sub-sector recorded lower inflation rate of 0.1 per cent.

The Producer
Price Index (PPI) measures the average change over time in the selling prices
received by domestic producers of goods and services.

According to the GSS, sellers and purchasers’ prices on the market may differ due to government subsidies, sales and excised taxes and distribution costs.

A business desk report