Ghana’s Producer Price Inflation for July increases to 8.8%

The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation (PPI) rate for July 2019 was 8.8%.

___7793094___2018___1___2___13___140910112306_ghana_nima_market_640x360_bbc_nocredit

According to GSS, this indicated that between July 2018 and July 2019 (year-on-year), the PPI increased by 8.8%.

This represents a 1.7 percentage point increase in producer inflation relative to the rate recorded in June 2019 (7.1%).

The month-on-month change in producer price index between June 2019 and July 2019 was 1.9 per cent

The PPI in the mining and quarrying sub-sector increased by 5.2 percentage points over the June 2019 rate of 22.4 percent to record 27.6% in July 2019. The producer inflation for manufacturing, which constitutes more than two-thirds of total industry, increased by 0.1 percentage points to record 5.4%.

The utility sub-sector recorded inflation rate of 6.9% indicating an increase of 5.8 percentage points over the rate recorded in June 2019.

In July 2018, the producer price inflation rate for all industry was 8.2% but declined continuously to 5.8% in September 2018. In October 2018, the rate increased to 7.2% but declined consistently to 3.4% in January 2019.

Since then, the rate resumed its upward trend to record 7.1 percent in April 2019 but declined to 6.7% in May 2019. However, the rate increased to 7.1% in June 2019 and then to 8.8% in July 2019.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

Sh79,000 per month jobs for Kenyans without degrees

Sh79,000 per month jobs for Kenyans without degrees

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

5 things you should never do to please a woman

5 things you should never do to please a woman

British MP claims she didn't know her flat was owned by the Kenyatta family

British MP claims she didn't know her flat was owned by the Kenyatta family

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Tiwa Savage breaks silence after her raunchy tape leaked online [Screenshot]

Tiwa Savage breaks silence after her raunchy tape leaked online [Screenshot]

5 ways to have more mind-blowing sex in your relationship

5 ways to have more mind-blowing sex in your relationship