The Producer Price Inflation (PPI) rate for May 2016 increased marginally from the revised 11.2 percent recorded in April 2016 to 11.3 percent.
The year-on-year monthly change rate for May 2016 is 0.9 percent.
This represents a 0.1 percentage point increase in the PPI rate recorded in May 2016, relative to what was recorded in April 2016.
According to figures from the Ghana Statistical Service, the monthly change rate for the producer price index for the utility sub sector was 0.1 percent, the lowest inflation rate in the month of May 2016.
The mining and quarry sub sector recorded the highest inflation of 2.4 percent while the manufacturing sub sector recorded 0.7 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 Government Statistician at the Ghana Statistical Service, Dr. Philomena Nyarko attributed the increase to performance of the currency and cost of production in the manufacturing sector.
The utilities sub sector recorded the highest year-on-year producer price inflation rate of 37.0 percent, followed by the manufacturing sector with 9.2 percent.
Meanwhile the mining sector recorded the lowest year on year inflation rate of negative 1.4 percent.
By: Norvan Acquah – Hayford/citibusinessnews.com/Ghana