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Business News Thu, 21 May 2020

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Mining records 38% Producer Price Inflation

The Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 38.0 percent, the Ghana Statistical Service (GSS), has said.

This, according to the GSS, is followed by the utility sub-sector with 12.1 percent. The Manufacturing sub-sector recorded the lowest year-on-year producer inflation rate of 0.5 percent.

For the monthly changes, the mining and quarrying sub-sector recorded the highest inflation rate of 8.9 percent, followed by manufacturing sub-sectors with 0.3 percent. The Utility sub-sector recorded the least inflation rate of 0.1.

The producer inflation rate in the petroleum subsector was 17.2 percent in April 2019. The rate declined continuously to record 1.2 percent in June 2019. However, it increased to 3.1 percent in

August 2019 but declined again to -5.7 percent in October 2019. Thereafter the rate increased consistently to record 20.6 percent in January 2020 but constantly declined to record -15.3 percent in April 2020.

Source: laudbusiness.com

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