The Producer Price Inflation (PPI) in the mining and quarrying sub-sector increased by 5.2 percentage points over the June 2019 rate of 22.4 per cent to record 27.6 per cent in July 2019, the Ghana Statistical Service (GSS) has announced.
The GSS said also that the manufacturing sector of the Ghanaian economy recorded a year-on-year inflation rate of 5.4 per cent in the month of July 2019 For all industry, the year-on-year producer inflation recorded 8.8 per cent in July 2019; the monthly change rate was 1.9 per cent.
A statement issued by the GSS recently said: “During the month of July 2019, seven out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 5.4 per cent.
“Manufacture of machinery and equipment NEC recorded the highest inflation rate of 24.7 per cent, while tanning and dressing of leather recorded inflation rate of 0.0 per cent.”
“The producer price inflation in the mining and quarrying sub-sector increased by 5.2 percentage points over the June 2019 rate of 22.4 per cent to record 27.6 per cent 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 per cent.”
“The utilities sub-sector recorded inflation rate of 6.9 per cent indicating an increase of 5.8 percentage point over the rate recorded in June 2019.” It added: “The year-on-year producer inflation for all industry was 8.8 per cent in July 2019; the monthly change rate was 1.9 percent.”
The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The PPI for Ghana reports the producer price indices with reference to September 2006, the base period.