The Acting Government Statistician, David Kombat has announced that Ghana’s Producer Price Inflation (PPI) for January 2019 has dropped to 3.4 percent.
The drop is a 1.0 percentage point decrease from the 4.4 percent recorded in December 2018.
Mr Kombat told Accra-based Citi FM that the drop in PPI to the decrease in the inflation rates in the manufacturing sub-sector.
“The decrease in the inflation rate of the manufacturing sub-sector from 4.5 percent in December 2018 to 3.0 percent in January 2019 was as a result of decreases inflation rates of the manufacture of refined petroleum products and manufacture of food and food products.”
The Producer Price Inflation (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The PPI, when analysed on a sector basis, shows that the Manufacture of basic metals recorded the highest inflation rate of 16.8 percent, while the manufacture of machinery and equipment recorded 0.0 percent.
The Mining and Quarrying sub-sector increased by 0.4 percentage point over the December 2018 rate of 8.5 percent to record 8.9 percent in January 2019.
For the Manufacturing industry, the PPI decreased by 1.5 percentage points to record 3.0 percent. Meanwhile, the utility sub-sector recorded the same inflation rate as the rate for December 2018, a rate of -0.1 percent.
In the month under review, five out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 3.0 percent.
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