Ghana’s producer inflation declines to 6.5 percent in November

Ghana’s Producer Price Index (PPI) edged lower to 6.5 percent in November, Ghana Statistical Service said here on Wednesday.

The November PPI declined by 0.7 percentage point from the 7.2 percent producer inflation for October, said the service.

The decline was mainly due to “the drop in the inflation rate for the manufacturing sector,” Acting Government Statistician Baah Wadieh explained.

Manufacturing, which constitutes more than two-thirds of all industries, decreased by 1.1 percentage points to record an inflation rate of 8.6 percent during the month under review.

In addition, food product prices declined 0.3 percentage points to 1.6 percent in November from 1.9 percent in the previous month.

The decline was partly due to the appreciation of the local cedi currency and base drift effect, he said. Enditem

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