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Producer price inflation falls to 2.8 per cent in October

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MarketThe year-on-year inflation from the Producer Price Index (PPI) for all industry was 2.8 per cent in October 2015, representing a 2.0 percentage points decline from the 4.8 percentage points recorded in September, 2015.

The monthly change in the producer price index between September and October was -0.7 per cent.

This was disclosed by Mr Anthony Amuzu, Acting Deputy Government Statistician, at a press conference on Wednesday.

He attributed the drop to the fall in petroleum prices during the review period.

The utilities sub-sector recorded an inflation rate of 5.3 per cent in October 2015, indicating a decrease of 1.9 percentage points over the September 2015 rate of 7.2 per cent.

The mining and quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 8.7 per cent.

With respect to the monthly changes, mining and quarrying recorded the highest inflation rate of 1.4 per cent, followed by the utilities sub-sector with 0.4 per cent.

The manufacturing sub-sector which constitutes more than two thirds of the total industry decreased by 3.2 percentage points to record 1.0 per cent.

Source: GNA

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