Ex-Factory Inflation Drops To 3.6%
Baah Wadieh, Acting Government Statistician
The Producer Price Inflation (PPI) recorded 3.6 percent in June as against 3.7 percent in May 2017, acting Government Statistician, Baah Wadieh, has said.
The figure represents a 0.1 percentage point decrease in producer inflation relative to the 3.7 rate recorded in May 2017.
The year-on-year producer inflation monthly change rate was also 1.1 percent.
Mr. Wadieh disclosed this yesterday in Accra at a press conference.
He said the mining and quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 12.0 percent, followed by the manufacturing sub-sector with 2.4 percent.
He added that the utilities sub-sector recorded the lowest year-on-year producer inflation rate of 1.3 percent.
Giving details of the monthly changes, Mr. Wadieh said the mining and quarrying sub-sector recorded the highest rate of 3.8 percent followed by the manufacturing sub-sector with 0.7 percent.
The utilities sub-sector recorded the lowest rate of 0.1 percent, Mr. Wadieh disclosed.
“During the month of June 2017, seven out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 2.4 percent,” he said.
He said manufacture of chemicals and chemical products sector recorded the highest inflation rate of 12.7 percent while manufacture of paper and paper products recorded the lowest producer price inflation rate of -5.3 percent.
“The producer inflation rate in the petroleum sub-sector was -4.7 percent in June 2016. The rate decreased to record -19.3 percent in July 2016,” the government statistician averred.
The rate increased consistently to record -0.1 percent in December 2016.
The rate declined to -6.9 percent in January 2017 but increased to 0.4 percent in February 2017 and then to 5.3 percent in March 2017, he added.
It declined to -1.2 percent in April 2017 and then to -4.5 percent in March 2017.
It, however, increased slightly to -4.0 percent in June 2017, Mr. Wadieh noted.
By Lawson Kwame Lugu