PRODUCER PRICE INDEX DOWN TO 3.1 PER CENT IN JANUARY
The year-on-year inflation from the Producer Price Index (PPI) for all industry fell to 3.1 per cent in January 2017, from the 4.8 per cent recorded in December, last year. The rate shows a 1.7 percentage points lower than the rate recorded in December 2016.
“The month-on-month change in the producer price index between December 2016 and January 2017 was 2.1 per cent,” Mr Baah Wadieh, the Acting Government Statistician, told a media conference, on Wednesday.
Mr Wadieh explained that the decline in the rate was mainly due to decrease in the inflation rate for the mining and quarrying and manufacturing sub-sectors.
The producer price inflation in the Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 18.6 per cent, followed by the Manufacturing sub-sector with 2.4 per cent.
The Utilities sub-sector recorded the lowest year-on-year producer price inflation rate of -6.8 per cent.
With respect to the monthly changes, the mining and quarrying recorded the highest rate of 4.9 per cent followed by the manufacturing sub-sector with 2.0 per cent.
The utilities sub-sector recorded the lowest rate of 0.2 per cent.