Friday, 30 July

Producer Price Inflation for June hits 10.1%

Business
GSS boss

The Producer Price Inflation (PPI) rate for June 2021 was 10.1 per cent, the Ghana Statistical Service has said.

This rate indicates that between June 2020 and June 2021 (year-on-year), the PPI increased by 10.1 per cent. This rate represents a 1.7 percentage point decrease in producer inflation relative to the rate recorded in May 2021 (11.8%).

The month-on-month change in producer price index between May 2021 and June 2021 was 1.1 per cent.

The producer price inflation in the Mining and Quarrying sub-sector decreased by 3.2 percentage points over the May 2021 rate of 12.7 per cent to a record 9.5 per cent in June 2021.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, decreased by 1.8 percentage points to a record 12.8 per cent.

The utility sub-sector recorded no inflation rate for June 2021.

In June 2020, the producer price inflation rate for all industry was 9.5 per cent.

The rate decreased to 9.0 per cent in August 2020.

It increased to 9.7 per cent in September 2020 but declined consistently to a record 7.0 per cent in December 2020.

In March 2021, the rate increased to 13.0 per cent.

However, in April 2021, it declined to 10.9 per cent.

In May 2021, the rate rose to 11.8 per cent but decreased to 10.1 per cent in June 2021.

Source: classfmonline.com