December 2020 Producer Price Inflation records 7 percent

Thu, 21 Jan 2021 Source: 3 News

The Producer Price Inflation (PPI) rate for December 2020 was 7 percent, the Ghana Statistical Service (GSS) has said on Wednesday, January 20, 2021.

This rate, according to the GSS, indicates that between December 2019 and December 2020 (year-on-year), the PPI increased by 7.0 percent.

This rate represents a 1.1 percentage point decrease in producer inflation relative to the rate recorded in

November 2020 (8.1%).

The month-on-month change in producer price index between November 2020 and December 2020 was 0.6 percent.

The producer price inflation in the Mining and Quarrying sub-sector decreased by 2.5 percentage points over the November 2020 rate of 34 percent to record 31.5 percent in December 2020.

The producer inflation for Manufacturing, which constitutes more than two-thirds of the total industry, decreased by 1.0 percentage points to record 3.8 percent.

The utility sub-sector decreased marginally by 0.1 percentage points over the November 2020 rate of 0.3 percent to record 0.2 percent.

Source: 3 News