Producer Price Inflation (PPI) for the month of July hit 47.4%, the highest rate ever recorded in Ghana.
The Producer Price Inflation rate measures the average change over time in the prices received by domestic producers for their production of goods and services.
The July rate of 47.4% increased from the 33.1percent recorded in the month of June, 2014.
The monthly inflation rate was also at a very high rate of 10.2percent increasing from 0.7percent recorded in the month of June.
The utilities group recorded the highest rate of inflation of 76.8percent.
Gold pushed upwards the inflation for the mining and quarrying sector.
It recorded an inflation rate of 50.9%.
A challenging business environment however shot up prices of manufacturing companies.
The sector recorded an inflation rate of 40.3 percent.
In this group, refined petroleum and nuclear fuel recorded the highest inflation rate of 77.3percent.
By: Kwaku Anim Boadu/citifmonline.com/Ghana