June PPI drops marginally to 10.1 %

The Producer Price Inflation (PPI) for June, 2021, provisionally fell marginally to 10.1 per cent from 11.8 per cent in May, 2021, the Ghana Statistical Service (GSS) said.

The drop represents a 1.7 percentage points lower than the rate recorded in May 2021 (11.8 per cent) and a monthly change rate of 1.1 per cent.

Government Statistician, Professor Samuel K. Annim, who disclosed this at a news conference in Accra on Wednesday, said the drop in the PPI was influenced by the utilities sector which recorded no change in the PPI rate.

He said sector recorded PPI rate of 0.1 per cent.

He said manufacturing recorded the highest PPI rate of 12.8 in June 2021, followed by mining and quarrying sector recording 9.5 per cent.

In May, 2021, the manufacturing recorded the PPI rate of 14.6 per cent, mining and quarrying 12.7 per cent and utilities 0.1 per cent.

Prof. Annim said for the monthly Producer Price Inflation, manufacturing recorded the lowest PPI rate of negative 1.1 per cent, followed by utilities at 0.0 per cent and manufacturing at 1.8 per cent.

He said five sectors such as the manufacture of motor vehicles, trailers and semi-trailers (28.4 per cent), cake, refined products and nuclear fuel (23.9 per cent), basic metals (22.6 per cent), rubber plastics (16.7) and paper and paper products (12.8 per cent), recorded PPI above the sector average of 12.8 per cent.

However, Prof. Annim observed that, among others, the manufacture of electrical machinery apparatus (0.0 per cent), wood and of products of wood and cork (1.9 per cent), textiles (4.8 per cent), chemical and chemical products (5.0 per cent) and furniture (6.2 per cent) below the sector average of 12.8 per cent.

For the Petroleum sector, the Government Statistician indicated that the PPI fell from 29.4 in May to 23.9 in June, 2021.


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