October PPI drops to 8.9 per cent

Ghana’s Producer Price Index (PPI) rate for October 2019 has declined to 8.9 per cent, from 9.1 per cent in September, the Acting Deputy Government Statistician David Kombat has said.

He said the rate represented a 0.2 percentage point decrease in inflation relative to the rate recorded in September while the monthly rate between September and October was pegged at 1.4 per cent.

Speaking at a press conference in Accra on Wednesday, Mr Kombat said the PPI rate for mining and quarrying sub-sector decreased by 2.7 per cent points over September’s rate of 37.1 per cent to record 34.4 per cent in October.

He said the utilities sub-sector recorded inflation rate of 12.6 per cent indicating an increase of 5.8 per cent points over September’s rate of 6.8 per cent, while manufacturing sector recorded the lowest producer inflation of 3.1 per cent.

He indicated that 10 out of the 16 major groups in the manufacturing sub-sector recorded rates higher than the sector’s average of 3.1 per cent.

Mr Kombat said the manufacture of machinery and equipment recorded 24.7 per cent while the manufacture of coke, refined petroleum products and nuclear fuel recorded the least inflation rate of -5.7 per cent.

The petroleum sector recorded -5.7 per cent as against -2.7 recorded in September 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.

BY JEMIMA ESINAM KUATSINU

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