The Producer Price Inflation (PPI) increased to 9.8 percent in October from the 9.7 percent recorded in September 2016.
This rate represents a 0.1 percenateg point increase in producer inflation relative to the rate recorded in September 2016
The month-on-month change in producer price index between September and October 2016 was -0.4 percent
According Mr Baah Wadieh, the Deputy Government Statistician, the 0.1 percent point increase was mainly influenced by activities in the manufacturing sector
“During the month of October 2016, ten out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher that the sector average of 3.0 percent.
“Manufacture of wood and of products of wood and cork recorded the highest inflation rate of 49.2 percent while manufacturing of coke , refined petroleum products and nuclear fuel recorded the lowest producer price inflation rate of -7.4 percent.”
The utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.2 percent followed by the Mining and Quarrying sub-sector with 14.7 percent.
“With respect to the monthly changes, the manufacturing sub-sector recorded the highest rate of 0.9 percent while mining and quarrying sub-sector recorded the lowest rate of -3.9 percent.
PPI measures the average change overtime in prices received by domestic producers for the production of their goods and services.
it is a major component of consumer inflation, which has for years remained above government targets.