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Producer Inflation Drop for the Month of May

The Producer Price Inflation (PPI) rate for May 2019 was 6.7 percent which indicates that between May 2018 and May 2019 (year-on-year), the PPI increased by 6.7 percent.

 

The month-on-month change in producer price index between April 2019 and May 2019 was 0.2 percent.

 

The Government Statistician, Prof. Samuel Kobina Anim announced this at a news conference in Accra on Wednesday.

 

He indicated that the mining and quarrying sub-sector recorded 15.1 percent in May as compared to the 12.3 percent recorded in April 2019 representing a 2.8 percent increase.

 

For the manufacturing sector which constitutes more than two-thirds of total industry, Prof Anim said it decreased by 1.3 percentage points to record 6.2 percent. This was the highest year-on-year inflation rate record out of the three sub-sectors.

 

“The utilities sub-sector recorded the lowest year-on-year producer inflation of 1.1 percent indicating an increase of 0.1 percent”, he added.

 

With respect to the monthly changes, Prof Anim noted   that the manufacturing sector recorded the highest inflation rate of 0.3%, followed by mining and quarrying sub-sector with 0.2% and the utility sub-sector with 0.0% for the month of May 2019.

 

Source: ISD (Ishmael Batoma)

Created: 24 June 2019
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