Anthony Amuzu
The year-on-year inflation from the producer’s perspective for all industry was 8.9 percent in December 2017.
This rate, according to Anthony Amuzu, Deputy Government Statistician, was 1.8 percentage points higher than the rate recorded in November 2017.
Addressing the press in Accra yesterday, he said the monthly change rate for December 2017 stood at 0.9 percent.
He also attributed the increase in the ex-factory prices in December to the rise in the prices of petroleum products that month.
The producer price index (PPI), according to him, measured the average change over time in the prices received by domestic producers for the production of their goods and services.
Mr Amuzu revealed that the Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate at 19.1 percent.
This was followed by the Manufacturing sub-sector with 8.8 percent while the Utilities sub-sector recorded the lowest year-on-year producer inflation rate at 0.4 percent.
With respect to the monthly changes, he said manufacturing recorded the highest rate of 1.5 percent, with the utilities sub-sector recording no change while the mining and quarrying sub-sector recorded the lowest rate of -0.6 percent.
Further touching on changes in sectoral inflation, the Deputy Government Statistician, stated that for mining and quarrying, the producer inflation rate increased by 4.7 percentage points in December 2017 relative to the rate recorded in November 2017 (14.4 percent).
For manufacturing, he said the rate for December 2017 was 1.6 percentage points higher than that of November 2017, which recorded 7.2 percent.
For utilities, he said the rate for December 2017 was 0.1 percentage points lower than that of November 2017 (0.5 percent).
By Samuel Boadi