Producer Price Inflation for February up two per cent

The Producer Price Inflation (PPI) for February 2019 was 5.4 per cent, representing a 2.0 percentage increment from 3.4 percent recorded in January 2019.

Mr David Kombat, the Acting Deputy Government Statistician, at a press briefing in Accra, attributed the rise to an increase in the price of gold and the depreciation of the cedi.

He said the Mining and Quarrying sub-sector recorded the highest year-on-year PPI rate of 13.4 per cent, followed by the manufacturing sub-sector with 5.0 per cent.

The utility sub-sector recorded the lowest year-on-year producer inflation of 0.2 per cent.

With respect to the monthly changes, Mr Kombat said the mining and quarrying sector recorded the highest inflation rate of 4.7 per cent, followed by manufacturing sub-sector with 1.9 per cent.

The utilities sub-sector recorded the lowest inflation rate of 0.1 per cent.

The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.

The Index reports the producer price indices with reference to September 2006, as the base period.

It also shows the annual and monthly producer inflation rates for the three major sub-sectors of industry – Mining and quarrying, manufacturing, and utilities for the last 12 months.