Ghana’s Producer Price Index (PPI) dipped further by 0.7 percentage points to 3.7 percent year-on-year in May, compared to 4.4 percent recorded in April, Ghana Statistical Service (GSS) announced here on Wednesday.

The Monthly Change Rate for the month under review was also -0.04 percent, relative to the -1.6 percent recorded during the previous month.

Anthony Amuzu, Deputy Government Statistician in charge of Operations, noted that while inflation rate for the utilities sector remained flat at 1.2 percent for the month under review, both the mining and quarrying and the manufacturing sectors recorded declines in their inflation rates.

“The mining and quarrying sector recorded a 3.9 percentage point decrease in inflation to record a year-on-year inflation rate of 14.3 percent during the month of May 2017, relative to the 18.2 percent inflation rate recorded in April 2017,” Amuzu disclosed.

He added: “Manufacturing also recorded a 0.3 percentage points decrease in the rate of inflation to record a year-on-year inflation rate of 2.1 percent during the month under review, relative to the 2.4 percent inflation rate recorded for the previous month.

While the manufacturing sub-sector recorded the highest monthly inflation rate with a 0.1 percent inflation, the utilities sub-sector remained unchanged, with the mining and quarrying sub-sector recording the lowest rate of -1.0 percent. Enditem

Source: Xinhua/NewsGhana.com.gh