The Ghana Producer Price Index for July 2018 has inched up to 8.2%. The Acting government statistician, Mr. Baah Wadieh, announced this in Accra on Wednesday. Speaking to the media, he said the rate represents a 0.5 percentage point increase in producer inflation relative to the rate recorded in June 2018 (7.7%).
The month-on-month change in producer price index between June 2018 and July 2018 was 0.2 %,” he said.
The acting government Statistician said the producer price inflation in the mining and quarrying sub-sector increased by 1.7 percentage point over the June 2018 rate of 5.8 % to record 7.5 % in July 2018.
He said the producer inflation for manufacturing which constitutes more than two-thirds of total industry increased by 0.2 percentage points, to record 10.4 %.
The utilities sub-sector recorded an inflation rate of -0.2% in July 2018 indicating an increase of 0.2 percentage point relative to the rate recorded in June 2017(-0.4%).
For manufacturing, the Statistician said during the month of July 2018, three out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 10.4%.
“Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 44.2% while manufacturing of rubber and plastic recorded the lowest producer price inflation rate of 1.7% he added.
The producer inflation rate in the petroleum sub-sector was -2.7% in July, the rate then increased consistently to record 36.9percent in November 2017 but declined consistently to record 15.9% in March 2018 and subsequently the rate consistently increased again to record 44.2% in June 2018, but decreased to 42.2% in July 2018.
The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.
Ghana | Atinkaonline.com | Hannah Obeng