September producer inflation increases to 9.6 per cent

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Ghana’s Producer Price Index (PPI) for September 2020 has increased to 9. 6 per cent from 9. 0 recorded in the previous month, the Ghana Statistical Service has said.

This, according to the Service represented a 0. 6 percentage points increase in producer inflation relative to the rate recorded in August this year.

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

The Government Statistician, Prof. Samuel Annim who announced this at a press conference in Accra on Wednesday said the monthly change in PPI between August and September 2020 was 0. 1 per cent.

For the Mining and quarrying sub-sector, he said its PPI decreased by 6. 1 percentage points over August 2020 rate was 37. 9 per cent to record 31.8 per cent in September 2020.

The Government Statistician  said  the manufacturing  sector  increased  by 1.9  percentage  points to record 5.9 per cent  with the  utility sector recording  the  same rate  of 5.8  per cent   recorded in  August for  September.

 Prof.  Annim   stated that  seven out of   16  major groups in the manufacturing  sub-sector  recorded  inflation rates  higher than  the  sector  average of 5.9  per cent.

The groups were manufacture of motor vehicles, trailers and semi-trailers 16.6 per cent, rubber and plastic products 16.5 per cent, other non-metallic mineral products 11.1 per cent, food products and beverages 8.9 per cent, furniture 7.3 per cent, publishing, printing and reproduction or recorded media 6.8 per cent and textiles 6.3 per cent.

He  said  the  manufacture of  coke, refined  petroleum  products  and  nuclear  fuel recorded the least rate of -0.3 per cent in the manufacturing  sector.

 According to Prof. Annim, monthly changes in the mining and quarrying sub-sector recorded the highest rate of 5.2 per cent while that of the manufacturing sub sector had a rate of 0.2 per cent.

 The utility sub sector, he said recorded no monthly rate change.

Source: ghanaiantimes