The Producer Price Inflation (PPI) decreased to 9.7 percent in September from the 11.1 percent recorded in August 2016.
According Mr Baah Wadieh, the Deputy Government Statistician, the 1.4 percent point decrease was mainly influenced by the drop in gold prices on the global market which affected manufacturing, minining and quarrying sub sector.
“The slight drop in all industry inflation rate from 11.1 percent in August 2016 to 9.7 percent in September was the result of the decrease in inflation rate for Manufacturing, and Mining and Quarrying subsector .That is, the inflation rate for manufacturing decreased and that Mining and Quarrying also decreased and that accounted for the decrease that we saw from 11.1 percent in august to 9.7 percent in September 2016,” he said
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.