Producer Price inflation for April hits 7.4 per cent

Ghana’s Producer Price Inflation (PPI) rate for April 2020 stood at 7.4 per cent representing a 0.6 percentage point increase in producer inflation relative to the rate recorded in March 2020 (6.8 per cent).

The month-on-month change in producer price index between March 2020 and April 2020 was 1.5 per cent.

This was in a statement from the Ghana Statistical Service and copied to the Ghana News Agency in Accra on Tuesday.

According to the statement, Professor Samuel Kobina Annim, the Government Statistician explained that the Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 38.0 per cent, followed by the utility sub-sector with 12.1 per cent.

The manufacturing sub-sector recorded the lowest year-on-year producer inflation rate of 0.5 per cent.

For the monthly changes, Prof. Anim said the mining and quarrying sub-sector recorded the highest inflation rate of 8.9 per cent, followed by manufacturing sub-sectors with 0.3 per cent.

The Utility sub-sector recorded the least inflation rate of 0.1 per cent.

The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services. GNA