Producer Inflation falls to 9.7 per cent in September

By Kodjo Adams, GNA
Accra, Oct. 28, GNA - Year on year industry inflation (PPI) for September fell to 9.7 per cent, representing a decrease of 1.4 percentage point over the 11.1 per cent recorded in August.

Month-on-month inflation change in producer price index between August and September 2016 was also 0.8 per cent.

Mr Baah Wadier, Deputy Government Statistician who announced this in Accra said the utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.2 per cent, followed by the mining and quarrying sub-sector with 22.2 per cent.

The manufacturing sub-sector recorded the lowest year-on-year inflation rate of 1.3 per cent.

However, with respect to the monthly changes, the manufacturing sub-sector recorded the highest rate of 0.9 per cent followed by the utilities sub-sector with 0.7 per cent, while the mining and quarrying sub-sector recorded the lowest rate of 0.4 per cent.

The inflation rate in the petroleum sub-sector in June 2016 decreased to record -4.7 per cent and then to -19.3 per cent in July 2016 but increased to -16.3 per cent in August 2016 and further to -14.8 per cent in September 2016.

GNA