Inflation Increase

Ghana’s Producer Price Inflation Hits 9.6% in September

The year-on-year Producer Price Inflation (PPI) rate rose slightly in September to 9.6 per cent compared with a 9.0 per cent recorded in August.

The rate represents a 0.6 percentage point increase in producer inflation relative to the rate recorded in August 2020.

Professor Samuel Annim, the Government Statistician, said the month-on-month change in producer price index between August 2020 and September 2020 was 0.1 percent.

The producer price inflation in the Mining and Quarrying sub-sector decreased by 6.1 percentage points over the August 2020 rate of 37.9 percent to record 31.8 percent in September 2020.

The Manufacturing sector, which constitutes more than two-thirds of the total industry, increased by 1.9 percentage points to record 5.9 percent.

The utility sub-sector recorded the same inflation rate of 5.8 percent as the rate for August 2020.

For the monthly changes, the mining and quarrying sub-sector recorded the highest inflation rate of 5.2 percent, followed by manufacturing sub-sectors with 0.2 percent. The Utility sub-sector recorded no monthly inflation rate in August 2020.

GNA

About Yusuf Issa

Check Also

FG Spends N50bn Monthly to Subsidise Electricity–Minister

The Federal Government spends N50 billion monthly to subsidise electricity, the Minister of Power, Engr. …

Leave a Reply

Your email address will not be published. Required fields are marked *