Producer Price Inflation for December jumps to 17.98 per cent

Accra, Jan. 26, GNA - The Ghana Statistical Service (GSS) on Wednesday announced an increase in the Producer Price Inflation (PPI) for December 2010, to 17.98 per cent, compared to 15.96 per cent in November.

On specific industry basis, the mining and quarrying sector recorded an increase of 5.69 in December, while the manufacturing sector recorded 2.02, followed by the utilities 0.14.

On the year-on-year inflation rate for the three sectors, the utilities recorded the highest inflation rate of 71.76 per cent, while the mining and quarrying sector recorded 25.28 per cent and the manufacturing sector recording 5.35 per cent.

Dr Grace Bediako, Government Statistician, who released the figures at a press conference in Accra, said there was stability in the producing sector of the economy.

She said the trend of PPI in the mining industry was the same as that of gold internationally.

"The year-on-year inflation rate from the producer perspective for all the industry for December was 17.98 per cent, while the monthly rate was 2.23 per cent," she said.

Dr Bediako said the inflation rate for the petroleum sector declined in November 2010, after increasing slightly in October the same year, but remained virtually unchanged in the month under review.