Producer-Price Inflation Accelerates to 19.3%

Ghana’s producer-price inflation rate rose to the highest this year in November as costs in the mining industry increased, the Ghana Statistical Service said.

The rate rose to 19.3 percent from a revised 15.3 percent in October, statistician Ebo Duncan told reporters in the capital, Accra, today. Producer prices rose 1.6 percent in the month.

Mining and quarrying costs, with a weighting of 14 percent in the overall index, increased 4.1 percent in the month, the statistics agency said. Manufacturing, which makes up 70 percent of the index, climbed 1.2 percent.

Ghana’s consumer-price inflation rate fell for the fifth consecutive month in November, dropping to 16.9 percent from 18 percent in October, the service said on Dec. 10.