Producer Price Inflation rate for June 2018 hits 7.7 percent


The Producer Price Inflation (PPI) rate for June 2018 stood at 7.7 percent, indicating that, between June 2017 and June 2018 (year-on-year), the PPI increased by 7.7 percent.

This rate represents a 0.6 percentage point increase in producer inflation relative to the rate recorded in May 2018 (7.1%). The month-on-month change in producer Price index between May 2018 and June 20I8 was 1-2.

Speaking at the Press Conference in Accra, The Acting Government Statistician of The Ghana Statistical Service, Baah Wadieh noted that, “the Manufacturing Sub-Sector recorded the highest year-on-year producer price int1ation rate of 10.2 percent, followed by the Mining and Quarrying subsector with 5.8 percent. The Utilities Sub-Sector recorded the lowest year-on-year producer int1ation of -0.4 percent”.

With respect to the monthly changes, Manufacturing recorded the highest inflation rate of 1.6 percent followed by the Mining and quarrying sub-sector which recorded 0.9 percent. The Unities sub-sector recorded the lowest inflation rate of 0.1 percent.

During the month of June 2018, three out of the sixteen major groups in the manufacturing sub-sector recorded inf1ation rates higher than the sector average of 10.2 percent, he added.

 Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 44.2 percent, while manufacturing of food products and beverages recorded the lowest producer price inflation rate of 1.9%.

According to GSS, “The producer inflation rate in the petroleum sub-Sector was -4.0 percent in June 2017. Subsequently, it increased consistently to record 36.9 percent in October 2017 but declined to 27.7 percent in November 2017. The rate increased to 36.4 percent in December 2017 but declined consistently to record 15.9 percent in March 2018.

Subsequently the rate consistently increased to record 44.2 percent in June 2018”.

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

The PPI for Ghana reports the producer price indices with reference to September 2006, the base period. 

This release shows the annual (year-on-year) and monthly producer inflation rates for all industry and three major sub-sectors of industry (Mining and Quarrying, Manufacturing and Utilities) for the last twelve months. 

The figures for the month '1 of June 2018 are provisional and are subject to (: revision when additional data become available. All other indicators are final.


Story by Edzorna Francis Mensah

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