The Producer Price Index (PPI) that measures the average change over time in the prices received by domestic producers for the production of their goods and services for the month of December recorded 4.9%.
The rate represents a 7.0 percentage decrease in producer inflation relative to the rate of 11.9% recorded in November 2016.
Briefing the press in Accra yesterday, the Deputy Government Statistician, Mr Antony Amuzu, explained that the month-on-month change in producer price index between November and December 2016 was -0.6%.
The Deputy Statistician said the mining and quarrying sub-sector recorded the highest year-on-year PPI rate of 15.6% followed by manufacturing sub-sector with 5.5%.
He said the utility sub-sector recorded the lowest of 0.2% each. The mining and quarrying sub-sector recorded the lowest rate of -4.5%.
“During the month of December 2016, 10 out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 5.5%”,” he said.
Explaining, Mr Amuzu said manufacture of paper and paper products recorded the highest inflation rate of 6.9% while manufacture of coke, refined petroleum products, recorded the lowest PPI rate of -0.1%.
He added that the PPI in the petroleum sub-sector was -21.8% in December 2015. The rate rose to record 3.3% in January 2016.
Source: Daily Heritage
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