ADVERTISEMENT

Ghana’s producer price index rose by less than one percent in July

This represents a 0.5 percentage point increase. The producer price inflation measures the prices received by domestic producers for the production of their goods and services over a period of time.

Ghana’s producer price inflation for July increased from 7.7 percent in the previous month to 8.2 percent.

ADVERTISEMENT

Speaking at a press conference to announce the figures, acting Government Statistician, Mr Baah Wadieh explained that the manufacturing sub-sector recorded the highest year-on-year producer price inflation.

“The figures also showed that during the month of July, three out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 10.4 percent,” he said.

He stated that the manufacturing of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 42.2 percent, while manufacturing of rubber and plastic products recorded the lowest producer price inflation rate of negative 1.7 percent.

Meanwhile in the petroleum sub-sector, the inflation rate was negative 2.7 percent in 2017.

Mr Wadieh pointed out that the rate then increased consistently to record 36.9 percent in October 2017 but declined to 27.7 percent in November 2017.

“The rate increased to 36.4 percent in December 2017 but declined consistently to record 15.9 percent in March 2018. Subsequently the rate increased again to record 44.2 percent in June 2018, but decreased to 42.2 percent in July 2018.” he said.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Linet Toto excited as she unveils sleek ride after 1 month in office [Photos]

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Top 10 African countries with the highest economic prospects for 2023

Top 10 African countries with the highest economic prospects for 2023

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Mathias Pogba brands Paul Pogba 'a so-called Muslim steeped in witchcraft' amid fetish claims about Kylian Mbappe

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

Ne-Yo speaks out after wife Crystal announced end of their 8-year marriage

ADVERTISEMENT