Petroleum sub-sector recorded 2.1% in July 2019

The producer inflation rate in the petroleum sub-sector was 2.1 percent in July 2019, the Ghana Statistical Service (GSS), has announced on Wednesday, August 19.

The rate increased to 3.1 percent in August 2019 but declined continuously to record -5.7 percent in October 2019.

Thereafter the rate increased consistently to record 20.6 percent in January 2020 but declined continuously to record -15.4 percent in May 2020.

However, the rate increased to -4.5 percent in June 2020 and then -4.0 percent in July 2020.

During July 2020, seven out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 4.4 percent.

Manufacture of rubber and plastic products recorded the highest inflation rate of 16.6 percent, while the Manufacture of coke, refined petroleum products and nuclear fuel recorded the least inflation rate of -4.0 percent.