Producer Price Inflation Rises for the Month of July 2019

By Ishmael Batoma And David Gomado

The Producer Price Inflation rate has increased from the 7.1 percent recorded in June 2019 to 8.8 percent in July 2019 representing a 1.7 percentage point increase.

This was announced by the Deputy Government Statistician, Mr. David Kombat, at a news conference in Accra on Wednesday.

Mr. Kombat attributed the rise in producer inflation rate to the increase in inflation rate in the Mining and Quarrying sub-sector and the Utility sub-sector.

He explained that the rise in inflation rate in the mining and quarrying sector by 5.2 percentage points from 22.4 in June 2019 to 27.6 in July 2019 was mainly because of an increase in the price of Gold.

In the Manufacturing sector, the Deputy Government Statistician noted that the tanning and dressing of leather group recorded a zero percent inflation rate, however, seven major groups recorded inflation rate higher than the sector average of 5.4 percent.

"For the monthly changes, utilities recorded the highest inflation rate of 5.9 percent, followed by the mining and quarrying sub-sector with 4.8 percent. The manufacturing sub-sector recorded the lowest inflation rate of 0.3 percent," he added.

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