The Producer Price Inflation for April fell from 6.0 per cent to 4.8 per cent in March 2017, the Ghana Statistical Service (GSS) has announced.
The stability of the cedi has been identified as the major cause for the fall. The year-on-year producer inflation for all industry was 4.8 per cent in April 2017; the monthly change rate was -1.3 per cent.
The Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 18.2 per cent, followed by the manufacturing subsector with 2.9 per cent. The utilities sub-sector recorded the lowest year-on-year producer inflation rate of 1.2 per cent.
With respect to the monthly changes, the utilities sub-sector recorded the highest rate of -0.3 per cent followed by the manufacturing sub-sector with -1.0 per cent. The mining and quarrying sub-sector recorded the lowest rate of -3.4 per cent.
In April 2016, the producer price inflation rate for all industry was 11.2 per cent. The rate decreased to 11.0 per cent in May 2016 and decreased further to record 7.6 per cent in June 2016.
It increased to 10.4 per cent in July, 2016 and then to 11.1 per cent in August 2016.
The rate declined in September 2016 to record 9.7 per cent but increased marginally to 9.8 per cent in October 2016.
It increased further to 11.9 per cent in November 2016 but declined to 4.8 per cent in December 2016 and then to 3.1 per cent in January 2017. In February 2017, the rate increased to 5.4 per cent and then to 6.0 per cent in March 2017 but declined to 4.8 per cent in April 2017.
During the month of April 2017, nine out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 2.9 per cent. Tanning and dressing of leather recorded the highest inflation rate of 20.8 per cent while manufacturing of paper and paper products recorded the lowest producer price inflation rate of -5.3 per cent.
Source:Ghana/AccraFM.com
