ADVERTISEMENT
RADP / Pulse Ghana  >  news  >  business

Producer Inflation for November rises to 11.9%

Magdalene Teiko Larnyoh

The producer price index measures the average change over time in the prices received by domestic producers for the production of their goods and services.

___5961451___https:______static.pulse.com.gh___webservice___escenic___binary___5961451___2016___12___28___15___1
___5961451___https:______static.pulse.com.gh___webservice___escenic___binary___5961451___2016___12___28___15___1

This is from a 9.7% recorded in October.

The Acting Government Statistician Baah Wadieh who made the announcement said this rate is 2.2 percentage points higher than the rate recorded in October 2016.

The monthly change rate for November 2016 was 1.2%.

ADVERTISEMENT

READ ALSO: Ghana will not meet budget deficit target- Terkper

“The Utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.3 percent, followed by the Mining and Quarrying sub-sector with 19.4 percent. The Manufacturing sub-sector recorded the lowest year-on-year inflation rate of 4.9 percent.”

With respect to the monthly changes, the Manufacturing sub-sector recorded the highest rate of 2.1 percent followed by utilities sub-sector with 0.1 percent. Mining and Quarrying sub-sector  recorded the lowest rate of -1.6 percent.

READ ALSO:  Get ready for my exit - TOR MD tells staff

Baah Wadieh also said that Ghana’s Gross Domestic Product (GDP) for the 3rd quarter of 2016 is 4%. This is an increase from the 2.5% recorded in the 2nd quarter of 2016.

ADVERTISEMENT

Oil was a major contributor to the upward trend.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!
Magdalene Teiko Larnyoh Magdalene Teiko Larnyoh A feminist at heart and a lover of art. She loves to write on business, politics and health.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT