Business & Markets

Producer Price Inflation rises to 6.4% in April

THE PRODUCER Price Index (PPI) that measures the average change over time in the prices received by domestic producers for the production of their goods and service for the month of April 2018 recorded inflation rate of 6.4%.


Briefing the press, the Deputy Government Statistician, Mr Baah Wadieh, explained that the rate represents a 2.7 percentage points increase in producer inflation relative to the rate recorded in March 2018 (3.7%).


For mining and quarrying sub-sector, he explained it increased by 4.5 percentage point over the March 2018 rate of 5.8% to record 10.3% in April 2018.


He added that manufacturing, which constitutes more than two-thirds of total industry, increased by 3.0 percentage points to record 7.2% followed by the utilities sub-sector, which recorded inflation of -0.3 % in April 2018, indicating a decrease of 0.3 percentage point relative to the rate recorded in March 2018 of -0.6%.


The Statistician explained that “with respect to the monthly changes, manufacturing recorded the highest inflation rate of 1.2% followed by mining and quarrying sub-sector with 0.7 percent. The utilities sub-sector recorded the lowest year-on-year change.


Mr Wadieh said the producer inflation rate in the petroleum sub-sector was -1.2% in April 2017. The rate further declined to –4.5 % in May 2017.


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