Ghana’s Producer Price Inflation dips to 23.8% in May

Ghana’s Producer Price Inflation (PPI) rate for May 2011 is 23.8%, lower than the 24.29% growth recorded in April, the Ghana Statistical Service (GSS) has announced.

Government Statistician, Dr Grace Bediako who made the announcement in Accra on June 22, 2011 told journalists that the monthly rate was 0.74% as compared to 0.63% in April.

Utility recorded the highest year-on-year inflation of 71.84% followed by mining and quarrying which declined to 32.6% from 37.07% in April with the lowest being manufacturing which had 12.42%.

“Mining and quarrying recorded the highest monthly change of 1.36%, followed by manufacturing (0.62%) and utilities (0.00),” Dr Bediako said.

By Ekow Quandzie