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Business News of Wednesday, 21 July 2021

Source: classfmonline.com

Producer Price Inflation for June 2021 hits 10.1%

The month-on-month change in producer price index between May 2021 and June 2021 was 1.1 percent The month-on-month change in producer price index between May 2021 and June 2021 was 1.1 percent

The Producer Price Inflation (PPI) rate for June 2021 was 10.1 percent the Ghana Statistical Service has said.

This rate indicates that between June 2020 and June 2021 (year-on-year), the PPI increased by 10.1 percent. This rate represents a 1.7 percentage point decrease in producer inflation relative to the rate recorded in May 2021 (11.8%).

The month-on-month change in producer price index between May 2021 and June 2021 was 1.1 percent.

The producer price inflation in the Mining and Quarrying sub-sector decreased by 3.2 percentage points over the May 2021 rate of 12.7 percent to record 9.5 percent in June 2021.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, decreased by 1.8 percentage points to record 12.8 percent. The utility sub-sector recorded no inflation rate for June 2021.

In June 2020, the producer price inflation rate for all industry was 9.5 percent. The rate decreased to 9.0 percent in August 2020. It increased to 9.7 percent in September 2020 but declined consistently to record 7.0 percent in December 2020.

In March 2021, the rate increased to 13.0 percent. However, in April 2021, it declined to 10.9 percent. In May 2021, the rate rose to 11.8 percent but decreased to 10.1 percent in June 2021.

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