Producer inflation remains at 7.1% in April 2019

The Producer Price Inflation (PPI) for April 2019 has remained unchanged at 7.1 percent.

Government Statistician, Prof Samuel Kobina Annim

This is the same as the rate for March 2019.

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

According to the Government Statistician, Prof Samuel Annim, factors contributing to this rate include the fall in the price index for the mining and quarrying sector and the petroleum price index, as well as a slight increase in the overall manufacturing and utilities sector.

The manufacturing and utilities sectors increased by 0.7 and 0.3 percentage points to record 7.5 percent and 1.1 percent, respectively. However, these increases became insignificant because the mining and quarrying sector recorded 15.9 percent which is a 3.6 percentage point’s decrease.

The manufacturing sector constitutes more than two-thirds of the total industry in the computation of the PPI.

During the month under review, three out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 6.1 percent.

The producer price inflation rate in the petroleum sub-sector has been volatile both upwards and downwards over the past year. It was 22.7 percent in April 2018. Afterwards, it increased to 44.2 percent in June 2018 but decreased to 31.1 percent in September 2018. However, it increased again to 36.1 percent in October 2018. It again resumed the downward trend to record 3.8 percent in January 2019 but increased consistently to record 17.2 percent in April 2019.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

9 most expensive African countries to rent a one bedroom apartment, based on property price to income ratio

9 most expensive African countries to rent a one bedroom apartment, based on property price to income ratio

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

Here are the top 10 cities in Africa where the most rich people live

Here are the top 10 cities in Africa where the most rich people live

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

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match