PPI for Dec 2016 records significant decrease

Figures released by the Ghana Statistical Service show that the producer price inflation for December 2016 fell to 4.9% from the 11.9% in November the same year.

The figures also revealed that the ex-factory prices of goods and services for all industry increased on average by 4.9 percent in December 2016 relative to the price level recorded in December 2015.

However compared to November 2016, the PPI decreased by 0.6 percent in December 2016.

The Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 15.6 percent, followed by the Manufacturing sub-sector with 5.5 percent.

The Utility sub-sector recorded the lowest year-on-year inflation rate of -7.0 percent.

The producer inflation rate for the mining and quarrying sector decreased by 3.8 percentage points in December 2016 relative to the rate recorded in November 2016 (19.4%).

Inflation for the manufacturing sector in December 2016 was 0.6 percentage points higher than that of November 2016 (4.9%).

Meanwhile, the utility subsector recorded an inflation of -45.3 percentage points lower compared with that of November 2016 (38.3%).