[ 2016-11-24 ]

October PPI increases slightly to 9.8%
The Producer Price Index (PPI) numbers released by
the Ghana statistical Service (GSS) today,
revealed a marginal upward adjustment in the rates
between September 2016 to that of October 2016.

The month of October according to the GSS recorded
provisional figures of 9.8 percent from the 9.7
percent recorded in September 2016.

The monthly change rate was negative 0.4 percent.

Speaking to journalists in Accra, the Deputy
Government Statistician at the Ghana Statistical
Services, Baah Wadieh attributed the slight
increase in the PPI to the hikes in the petroleum
products and also chemical and chemical products.

“The slight increase we are seeing is as result
of the manufacturing sub - sector which had seen
the petroleum products hikes in the last pricing
window and also chemical and chemical
products.”

“Also with respect to the changes, the
manufacturing sub – sector recorded the highest
rate of 0.9 percent while the mining and quarry
sub sector recorded the lowest rate of negative
3.9 percent.

Even though the Utilities sub – sector in the
month of October saw no change, it recorded the
highest year on year producer price inflation rate
of 38.2 percent, followed by the mining and quarry
sector with 14.7 percent.

Manufacturing sector recorded the lowest year –
on – year inflation rate of 3.0 percent.

Manufacturing sub-sector

During the month of October 2016, ten out of the
sixteen major groups in the sector recorded
inflation rates higher than the national average
of 3.0 percent.

According to him, the manufacturing of woods and
products of wood and cork recorded the highest
inflation rate of 49.2 percent while manufacturing
of coke, refined petroleum products and nuclear
fuel recorded the lowest producer price inflation
rate of negative 7.4 percent.

Source - Business & Financial Times

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