The sports category has moved to a new website.

Ghana’s producer price inflation has risen to 6.7 percent

Ghana’s producer price inflation rose to 6.7 per cent in March 2019. This is 3 per cent higher compared to the 3.7 per cent recorded in the same period in 2017.

The Ghana cedis

According to the Ghana Statistical Service, the rise in inflation is due to the prevailing prices of commodities like gold and petroleum in the international world market.

In an interview with Accra-based Citi FM, the Government Statistician, Professor Samuel Annim said that the cedi’s depreciation for the month of March also had an impact on the producer price inflation rate.

“There is a pattern in terms of the movement in the depreciation of the currency and also the PPI for mining and quarrying subsectors. But it is too early to jump the gun to say that these are causing the change of 3 per cent. There is the need for some level of estimation in determining the factors that have accounted for the rise in relation to the PPI,” he explained.

The Producer Price Index measures the average change over time in the prices received by domestic producers for the production of their goods and services.

ADVERTISEMENT

This is the third time that the Producer Price Inflation has increased between October 2018 and March 2019.

The three periods were July 2018 [8.2 per cent], October 2018 [7.2 per cent] and February 2019.

A breakdown of the performances for the subsectors shows that the mining and quarrying subsector recorded the highest inflation rate of 15.9 per cent.

It was followed by manufacturing at 6.1 per cent.

The utility subsector recorded the least inflation of 0.9 per cent.

ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

10 African cities with the highest crime index at the start of 2024

10 African cities with the highest crime index at the start of 2024

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Machoka at 70: Emotions run high during Citizen TV presenter's birthday [Video]

Diwali 2022: Is Monday a public holiday in Kenya?

Diwali 2022: Is Monday a public holiday in Kenya?

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Akothee finally reveals reasons for separating from Omosh 1 month after wedding

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Man, once a ‘billionaire’, recounts how he lost wealth, now sells his book on streets [Video]

Details of Ngina Kenyatta's luxurious restaurant

Details of Ngina Kenyatta's luxurious restaurant

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Zero Chills! Jackie Matubia's advice for Milly Chebby amid the unfollow drama

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

Nigerian royal dignitaries, including four kings and a queen, expected to attend Museveni’s 50th wedding anniversary celebrations

10 African countries with the strongest military power in 2024

10 African countries with the strongest military power in 2024

ADVERTISEMENT