Producer price Index (PPI) for October 2019 dropped to 8.9% from the September figure of 9.7%.
Producer Price Index, PPI is the index that measures the average change over time in prices that domestic producers incur in the production of their goods and services over a period.
The 8.9 percent recorded in October 2019 is 0.8 percentage points lower compared to the 9.7 percent recorded in September.
Data released from the Ghana Statistical Service also suggest that the Mining and Quarrying sub-sectors recorded the highest inflation of 34.4 percent in October.
Additionally Utilities sub-sector recorded an inflation rate of 12.6 percent, whilst the manufacturing sub-sector recorded the least inflation of 3.1 percent.
Briefing the press on the producer price Index in Accra, David Kombat, Deputy Government Statistician of the Ghana Statistical Service, explained that, developments on the international market influenced the inflation rate for the mining and quarrying sectors