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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

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    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

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    Gov’t to commence talks with IMF for bailout

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Producer Price Inflation for June records marginal increase

bycitibusinessnews
July 22, 2020
in Local Economy, Top Stories
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The Producer Price Inflation for June 2020 saw a marginal increase compared to the same period last month.

The PPI increased by 0.3 percent, recording 8.7 percentage points, compared to 8.4 percent it recorded same time in May.

This means the year on year PPI, thus between June 2019 and June 2020, increased by 8.7 percent.

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The month-on-month change in the PPI between May and June 2020, was also pegged at 1.8 percent.

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

Government Statistician, Samuel Kobina Annim, gave a breakdown of the figures.

“The Producer Inflation for the month of June was 8.7 percent. This means that comparing 8.4 producer inflation for May 2020 and 8.7 for June 2020, there has been an increase of 0.3 percentage points. On a month on month basis, producer inflation for June 2020 was 1.8 percent. This compares with 1.2 percent for May 2020. Year on year from the producer’s perspective was 8.7 percent. This is a 0.3 percentage points producer inflation higher than the rate recorded in May 2020. The month on month producer inflation was 1.8 percent for the month of June 2020. This compares with a producer inflation of 1.2 for the month of May 2020,” he said.

Meanwhile, the manufacturing sub-sector recorded the highest inflation of 2.3 percent month on month basis, followed by mining and quarrying sub-sector with 1.8 percent.

The utilities sub-sector recorded no inflation in the month of June 2020.

The Mining and Quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 35.2 percent, followed by Utilities sub-sector with 12.1 percent.

The manufacturing sub-sector recorded the lowest year-on-year producer inflation of 2.7 percent.

The producer inflation rate in the petroleum sub-sector was 1.2 percent in June 2019. Subsequently, the rate increased to record 3.1 percent in August 2019 but declined to -5.7 percent in October 2019.

The rate then increased consistently to record 20.6 percent in January 2020 but constantly declined to record -15.4 percent in May 2020. However, the rate increased again to record -5.4 percent in June 2020.

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Financing agric sector alone not enough to grow it – GIRSAL CEO

Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

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