Producer-Price Inflation Rate Falls to 16.39%

Ghana’s annual producer-price inflation rate fell to 16.39 percent in July, the Ghana Statistical Service said.

Inflation slowed from a revised 17.94 percent in June, Grace Bediako, an official at the service, told reporters today in the capital, Accra.

Price increases in the mining industry, which has a weighting of 14 percent on the overall index, slowed to 1.57 percent in July, from 2.56 percent a month earlier, she said.

Prices in manufacturing, which accounts for 70 percent of the index, rose 0.1 percent in the month from 10.4 percent in June, Bediako said.

Ghana’s inflation rate fell to 20.5 percent in July from a five-year high of 20.7 percent in June, the Statistical Service said Aug. 14.