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

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

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

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

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

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

    Nigeria begins processes to join Ghana-Côte d’Ivoire Cocoa Initiative

    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Increased manufacturing pushes PPI for February to over 10%, highest in 12 months 

byBobbie Osei
March 18, 2021
in Business, Economy, Manufacturing, Mining, News, Top Stories
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The average price of goods and services received by domestic producers in the country for their production activities, in the month of February went up by 10.3 percent, when compared with the prices received by the producers in February of last year.

The increase in prices which brings the producer price inflation rate for February 2021, to 10.3 percent, is the highest in the past 12 months.

According to Government Statistician, Professor Samuel Kobina Anim manufacturing of food products and beverages accounted significantly to the increase in producer price inflation for the month of February.

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“The increase in the producer price inflation for February by 1.6 percentage point, relative to the rate recorded in January 2021, is largely driven by the manufacture of food products and beverages which went up to 6.9% in February, 2021 compared to 5.4% that was recorded in January 2021. The manufacture of petroleum products also played a role.”

“Across the sub-sectors, we see the Mining and Quarrying sub-sector recording the highest producer price inflation of 24.2%, followed by the Manufacturing sub-sector (9.8%) and the Utility sub-sector (0.4%),” he added.

 

Further sectorial breakdown

The producer price inflation in the Mining and Quarrying sub-sector decreased by 3.2 percentage points over the January 2021 rate of 27.4 percent to record 24.2 percent in February 2021.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.9 percentage points to record 9.8 percent.

The utility sub-sector recorded no change in the inflation rate in January 2021. In February 2021, seven out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 9.8 percent.

Manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation rate of 40.6 percent, while the Manufacture of machinery and equipment n.e.c. recorded the least inflation rate of 0.0 percent.

Manufacture of coke, refined petroleum products etc: Annual rate was 13.7 percent for February 2021, as compare to 4.4 percent in January 2021.

Manufacture of other non-metallic mineral product: Annual rate was 19.1 percent for February 2021, as compared to 18.5 percent in Janauary 2021.

Manufacture of food products and beverages: Annual rate was 6.9 percent in February 2021, as compared to 5.4 percent in January 2021.

Electricity and Water Supply: the inflation rate was 0.4 percent in February 2021, as compared to 0.3 percent in January 2021.

 

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