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30.09.2016 Business & Finance

Producer Inflation rises to 11.1 per cent in July

30.09.2016 LISTEN
By Ghanaian Chronicle

Year-on-year industry inflation (PPI) for August rose to 11.1 per cent, representing an increase of 0.7 percentage point over the 10.4 per cent recorded in July.

That is, ex-factory prices of goods and services for all industry increased, on average, by 11.1 percent in August 2016, relative to the price level recorded in August 2015.

Month-on-month inflation change in producer price index, between July and August, stood at -3.3 per cent.

Year-on-year inflation in the Mining and Quarrying sector fell by 2.0 percentage points to 28.4 per cent, compared to 30.4 per cent.

Manufacturing, which constitutes more than two-thirds of total industry, increased by 1.3 percentage points to record 2.5 per cent, while the Utilities sub-sector recorded the highest of 36.0 per cent, a decline of 0.6 percentage point from the 36.6 per cent in July.

Dr. Philomena Nyarko, Government Statistician, said the inflation rate in the petroleum sub-sector increased to -16.3 per cent in August, up from -19.3 per cent in July.

Source: GNA
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