Business News of 2013-12-19

Ex-Factory prices go up

Ex-factory prices of goods for all industry increased on average by 13.7 percent in November 2013 relative to the price level recorded in November 2012.

Year-on-year, the increase in rate was 2.1 percentage points higher than the October figure while the monthly change rate was 1.5 percent compared to the rate for October 2013.

Dr Philomena Nyarko, Acting Government Statistician, who disclosed these while launching the producer price inflation (PPI) for November 2013 yesterday in Accra, said the producer inflation rate for mining and quarrying increased by 2.8 percentage points in November relative to the rate recorded for October of -17.7 percent was the lowest. It was -14.9 percent.

For the manufacturing sector, the rate for November was 2.2 percentage points higher than the figure recorded for October 2013.

The utilities sector recorded the highest year-on-year rate of 40.8 percent for November, an increase of 0.3 percentage points over the 40.5 percent recorded for October this year.