Producer Price Inflation drops to 10.2% in April 2013.
PPI which measures the average price overtime in the prices received by domestic producers for the production of goods and services has been declining for some time now.
It however increased steadily in March. April’s drop represents a 0.4 percentage points decrease. On sector basis, the mining and quarrying sub-sector dropped to 2.4% from 6.4% recorded in March 2013.
Utilities sub-sector however, recorded no inflation from March to April.
While the manufacturing Subsector contributing up to two-thirds to PPI recorded the highest inflation rate of 14.4%
Head of Industrial Statistics at the Ghana Statistical Service, Anthony Kraka in an interview with Citi Business News said global commodity prices fluctuation has contributed to the fall.
“There was a slight decrease between March rates which was 10.6% and April. This was largely because the world prices of gold decreased and the mining index decreased 4.6 percentage points and that affected all industries and PPI rates”
He added that “manufacturing index has been 14.4% which is not too bad because manufacturing in other countries have had been quite high” he added.
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