Ghana’s PP Inflation rises to 19.1% in June 2012

The year-on-year Producer Price Inflation (PPI) rate for June rose to 19.1 per cent compared to 18.0 per cent in May, the Ghana Statistical Service (GSS) has announced.

This means the year-on-year inflation from the producer’s perspective for all industry for June 2012, was 19.1 per cent.

A statement released in Accra and copied to the Ghana News Agency (GNA) indicated that the rate was 2.5 percentage points higher than that of May 2012. The statement said the monthly inflation rate was 2.6 per cent, against 2.2 per cent in May.

According to the statement, manufacturing recorded the highest year-on-year producer inflation rate of 22.0 per cent, producing the highest monthly change of 4.1 per cent.

It stated that mining and quarrying sector recorded 19.5 per cent, causing a drop by 3.0 percentage points relative to the 22.5 per cent rate recorded in May 2012.

The statement said Utilities was 10.1 per cent, which was slightly higher than that of May 2012 by 0.4 percentage points.

Mr. Magnus Ebo Duncan, Head of Economics Statistics, GSS noted that it became necessary to issue the press statement, instead of the usual presentation on the PPI to mourn with Ghanaians on the death of President Mills.

He, on behalf of the GSS, expressed sincere condolence to Government and the people of Ghana for the lost.**