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Business News of Wednesday, 22 June 2011

Source: GNA

Producer Price Inflation for May falls to 23.8 per cent

Accra, June 22, GNA - The Ghana Statistical Service (GSS) on Wednesday announced a fall in the Producer Price Inflation (PPI) for May 2011 to 23.8 per cent, compared to 24.29 per cent in April.

On a month-on month basis, producer prices rose 0.74 per cent during th= e month, after increasing 0.63 percent in April. On specific industry basis, the mining and quarrying prices declined t= o 32.6 per cent down from 37.07 per cent in April. Manufacturing, which contributed more than two-thirds to total industr= y rose 12.42 per cent from 12.22 per cent in April.

Dr Grace Bediako, Government Statistician, said the highest year-on-year price change of 71.84 was recorded in the utilities sector and this has remained unchanged since June 2010.