Ghana’s Producer Price Inflation for September 2019 increases to 9.7 percent

Ghana’s Producer Price Inflation for September 2019 has increased to 9.7 percent.

Ghana’s Producer Price Inflation for September 2019 increases to 97 percent

This shows a slow increase in the average prices of goods produced in the manufacturing subsector of the economy.

The Producer Price Inflation is the average change over time in prices of goods and services quoted at the factory level before it gets to the market.

The Deputy Government Statistician, David Kombat who explained the factors that caused the increase in the PPI, noted that the activities in the manufacturing sub-sector contributed heavily in the period under review.

He, however, noted that on a month-on-month basis, “the rate represented a 0.5 percentage point decrease in the producer price inflation relative to the rate recorded in August 2019, which was 10.2 percent."

Manufacturing subsector

Under the manufacturing subsector, eight out of the 16 major groups in the manufacturing subsector recorded inflation rates higher than the sector average of 4.9 percent.

Manufacture of machinery and equipment recorded the highest inflation rate of 24.7 percent while tanning and dressing of leather products recorded the least rate of 0.0 percent.

Petroleum price index

The producer inflation rate in the petroleum subsector was 31.1 percent in September 2018. The rate increased 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.

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