The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation (PPI) rate for July 2019 was 8.8%.
This represents an increase of 1.7 percentage points from the 7.1 percent recorded in June. The PPI measures the average cost at which producers manufacture products.
The month-on-month change in producer price index between June 2019 and July 2019 was 1.9 per cent
The PPI in the mining and quarrying sub-sector increased by 5.2 percentage points over the June 2019 rate of 22.4 percent to record 27.6% in July 2019. The producer inflation for manufacturing, which constitutes more than two-thirds of total industry, increased by 0.1 percentage points to record 5.4%.
According to Deputy Government Statistician, David Kombat, the increase in the PPI for July was driven largely by the Mining and Quarrying sector.
It was followed by utility subsector with inflation of 6.9% with manufacturing recording the lowest inflation of 5.4%.
With respect to the monthly changes, Utilities recorded the highest inflation rate of 5.9 percent, followed by Mining and quarrying sub-sector with 4.8 percent.
The Manufacturing sub-sector recorded the lowest inflation rate of 0.3 percent.
In July 2018, the producer price inflation rate for all industry was 8.2% but declined continuously to 5.8% in September 2018. In October 2018, the rate increased to 7.2% but declined consistently to 3.4% in January 2019.