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Producer Price Inflation rate for Dec. dips to 4.4%

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The Producer Price Inflation for December 2018 was 4.4 percent, representing a 2.1 percent decrease in the producer inflation of 6.5 percent recorded in November 2018.

The month-on-month change in producer price index between November 2018 and December 2018 was -1.2 percent, Mr. David Kombat – Head of Publicity and Education, Ghana Statistical Service, announced this on Wednesday in Accra at a press briefing.

He said the Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 8.5 percent, followed by the manufacturing sub-sector with 4.5 percent.

The Utilities sub-sector recorded the lowest year-on-year producer inflation of -0.1 percent.

With respect to the monthly changes, Mr Kombat said the mining and quarrying sector recorded the highest inflation rate of 2.9 percent, followed by the Utilities sub-sector with 0.0 percent.

The Manufacturing sub-sector recorded the lowest inflation rate of -2.4 percent.

Touching on trends for the rate, Mr. Kombat said in December 2018 the producer price inflation rate for all industry was 8.7 percent. The rate decreased consistently to record 3.7 percent in March 2018 and subsequently increased to 8.2 percent in July 2018, but decreased to 7.0 percent in August 2018.

The rate further decreased to 5.8 percent in September 2018, and in October 2018 the rate increased to 7.2 percent but declined to 6.5 percent in November 2018.

Source: thebftonline.com

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