Producer price inflation increases to 9.8 per cent in October

26th Nov 2016 | Source: GNA

The year-on-year inflation from the Producer Price Index (PPI) for all industry was 9.8 per cent in October 2016. The rate indicates that, from October 2015 to October 2016 (year-on-year), the PPI increased by 9.8 per cent. The rate represents a 0.1 percentage point increase in producer inflation relative to the rate recorded in September 2016 (9.7 per cent).

The monthly change in the producer price index from September to October was -0.4 per cent.

This was disclosed by Mr Baah Wadieh, Acting Government Statistician, at a press conference on Wednesday.The Utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.2 per cent, followed by the Mining and Quarrying sub-sector with 14.7 per cent. The Manufacturing sub-sector recorded the lowest year-on-year inflation rate of 3.0 per cent.

With respect to the monthly changes, the Manufacturing sub-sector recorded the highest rate 0.9 per cent while Mining and Quarrying sub-sector recorded the lowest rate of -3.9 per cent whilst the utilities sub-sector remained unchanged