Ghana’s producer price inflation falls to 16.8% in September 2012

The year-on-year inflation in ex-factory prices of goods slipped to 16.8 percent in September 2012 compared with 17.8 percent in August, the Ghana Statistical Service said on Wednesday.

Dr Philomena Nyarko, Acting Government Statistician, said ex-factory prices of goods for all industry increased on average by 16.8 percent in September 2012 relative to the price level recorded in September 2011.

The monthly change rate was 1.3 percent, meaning that compared to August 2012, the Producer Price Inflation increased by 1.3% in September 2012.

For mining and quarrying, the producer inflation rate increased by 2.6 percentage points to 19.5 percent, relative to the rate of 16.9 percent recorded in August.

Dr Nyarko said the manufacturing sector, which constituted more than two-thirds of total industry, increased slightly to 20.5 percent from a rate of 20.4 percent in August.

The rate of inflation in Utilities dropped to 3 percent in September lower than that of 10.5 percent in August.

The highest monthly change of 5.7 % was recorded in the Mining and quarrying sector.

Source: GNA