The Producer Price Inflation (PPI) increased to 10.5 percent in December from 3.0 percent recorded in November 2015, recording a 7.5 percentage increase in the PPI rate recorded in November 2015.
The month on month change between November 2015 to December 2015, was 6.2 percent.
The Producer Price Index measures the average change overtime in prices received by domestic producers for the production of their goods and services.
The month-on-month change in producer price index between September and October 2015 was minus 0.7 percent.
Explaining the figures at a media briefing, Government statistician, Dr. Philomena Nyarko stated,
“We are saying that the year on year inflation from the producer’s perspective for all industry is 10.5 percent in December 2015. This rate is 7.5 percentages higher than the 3.0 percentage recorded in November 2015.
The utility sub sector recorded the highest year on year producer price inflation rate of 56.6 percent, followed by the mining and quarrying sub sector with 4.8 percent. The manufacturing sub sector recorded the lowest year on year inflation rate of 3.5 percent.”
The monthly change in the producer price index shows that utilities recorded the highest inflation rate of 48.8 percent followed by manufacturing sub sector recording negative 0.3 percent.
Meanwhile, the mining and quarrying sub sector recorded the lowest of negative 1.4 percent.