PPI for September reaches 1.87%

Accra, Oct. 23, GNA - The monthly Producer Price Index (PPI) for industry increased by 1.62 per cent to 1.87 per cent for September, the Ghana Statistical Service announced in Accra on Friday. The figure for August was 0.25 percentage points.

On specific industry basis, the mining and quarrying sector recorded an increase of 2.43 per cent to close at 2.94 per cent in September down from 0.51 in August whilst manufacturing sector rose by 1.37 per cent to end at 1.59 per cent in September as against 0.22 per cent in August. Figures for the utilities sector dropped marginally to -0.06 per cent in September as against -0.05 per cent in August whilst those for the petroleum sector maintained their usual negative trends, which set in since January this year.

The annual PPI for the sectors in September 2009 was 15.52 per cent as against 14.12 per cent in August.

Dr Grace Bediako, Government Statistician, who released the figures at a press conference in Accra, attributed the high trend recorded at the mining and quarrying sector to the rising price of gold at the world market. Dr Bediako said the relative stable nature of the oil prices in the country made the sector to continue to record negative figures. Meanwhile, it is expected that when the trends hold, the monthly PPI for subsequent months may rise. However, the utilities sector may continue to reduce as outlook projects no immediate price increases.