January Producer Price Inflation up to 16.3 per cent
Producer Price Inflation (PPI) for ex-factory prices of goods and services for the month of January was 16.3 per cent.
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This shows an increase of 5.3 per cent over the 11.0 per cent recorded in December 2015.
The Producer Price Index measures the average change over time in the prices received by domestic producers for the production of their goods and services.
At a news conference in Accra, the Government Statistician, Dr Philomena Nyarko, stated that the utilities sub-sector recorded the highest year-on-year producer price inflation rate of 56.6 per cent, followed by the mining and quarry sub-sectors with 2.3 per cent.
The Producer Price Inflation in the mining and quarry sub-sectors for the month under review stood at 2.9 per cent, representing a 1.9 per cent decrease over the December 2015 rate of 4.8 per cent.
Manufacturing, which constitutes more than two-thirds of total industry increased by 7.7 percentage points to end January at 11.4 per cent.
Dr Nyarko indicated that the utilities sub-sector recorded an inflation rate of 56.6 per cent in January, a figure that remained unchanged over the December 2015 rate.
Trends
The year-on-year inflation in ex-factory prices of goods and services stood at 16.3 per cent in January 2016.
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From January 2015, the producer price inflation rate consistently declined to record 19.2 per cent in March 2015. Subsequently, the rate fluctuated to record 23.1 per cent in June 2015.
The rate declined consistently from 10.2 per cent in July 2015 to 2.9 per cent in October 2015. However, it increased to record 11.0 per cent in December 2015. In January 2016, the rate increased to record 16.3 per cent.