Business News of Wed, 22 Mar 20170

PPI for February is 5.4%

Acting Government Statistician Baah Wadieh has announced that the Producer Price Index (PPI) for February is 5.4 per cent.

Mr Baah Wadieh, speaking at a press conference in Accra on Wednesday March 22, stated that activities in the mining and quarrying sector contributed to the marginal increase as they recorded the highest percentage increase of 19.7.

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“The year-on-year inflation from the producer’s perspective for all industry was 5.4 percent in February 2017. This rate is 2.3 per cent higher than the rate recorded in January 2017. The monthly change rate for February 2017 was 2.2 per cent. The mining and quarrying subsector recorded the highest year-on-year producer price Inflation rate of 19.7 per cent, followed by the manufacturing subsector with 3.5 per cent,” he explained.

He further stated that the utility subsector recorded the lowest year-on-year inflation rate of 1.3 per cent with respect to the monthly changes, adding that the mining and quarrying subsector recorded the highest rate of 8.9 per cent followed by the manufacturing subsector with 1.3 per cent.

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