November producer price inflation increases to 13.6 per cent

The year-on-year producer price inflation for November rose to 13.6 per cent from 10.6 per cent in October.

This represents a 3.0 percentage points increase in producer inflation relative to the rate recorded in October last month, a month-on-month change rate of 2.8 per cent.

The Government Statistician, Prof. Samuel K. Annim, who announced this in Accra yesterday, said the manufacturing sector, which constituted more than two-thirds of total industry, drove the November producer inflation.

“The manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 20.0 per cent,” he said.

“In November 2021, one out of 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 20.0 per cent.  Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 58.4 per cent, while the manufacturing of motor vehicles, trailers and semi-trailers recorded the least inflation rate of -0.3 per cent,” Prof. Annim, said.

He said the manufacturing sub-sector recorded the highest monthly inflation rate of 3.6 per cent.

Prof. Annim said the producer price inflation in the mining and quarrying sub-sector increased by 2.8 percentage points over the October 2021 rate of -1.0 per cent to record 1.8 per cent in November 2021. 

The Government Statistician said the utility sub-sector recorded no chance in producer price inflation for November at the rate of 0.2 per cent.

Prof. Annim said the producer price inflation for the petroleum sub-sector rose to 58.4 per cent in November 2021, compared with -5.0 per cent in November 2020.

BY KINGSLEY ASARE

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