June Producer Price Inflation inches up to 7.6 per cent

The Producer Price Inflation rate for June this year inched up to 7.6 per cent from 6.7 per cent in May.

The Deputy Government Statistician, David Kombat who announced this at a news conference in Accra yesterday said the jump in the PPI rate was influenced by a hike in the inflation rate of mining and quarrying.

He said mining and quarrying recorded an inflation rate of 22.4 per cent in June, which is 7.3 per cent higher than the 15.1 per cent recorded in May.

The Deputy Government Statistician explained that the hike in the PPI rate of mining and quarrying was caused by the increase in the price of gold.

He said the producer inflation for the manufacturing sector, which constituted more than two-thirds of total industry decreased by 0.1 percentage points to record 6.1 per cent.

The Deputy Government Statistician indicated that eight of the sub-sector of the manufacturing sector recorded inflation rates higher than the sector average of 6.1 per cent.

He mentioned some of the sub-sectors as machinery and equipment, motor vehicles, trailers and semi-trailers, basic metals, non-metallic minerals and food and beverages.

The Deputy Government Statistician, however, said the manufacturing sub-sector such as textiles, paper and paper products, rubber and plastic products and printing and reproduction recorded inflation rates below the sector average of 6.1 per cent.

Mr Kombat said the utilities sub-sector recorded producer inflation rate 1.2 per cent, representing an increase of 0.1 percentage point over the rate recorded in May 2019.

The Deputy Government Statistician said the petroleum sub-sector in June recorded inflation producer inflation rate 4.2 per cent from 17.2 per cent in April.

Kingsley Asare & Dorothy Brocke

Show More
Back to top button