Producer Price Inflation for August decreases to 4.4%

The Producer Price Inflation (PPI) for August 2015 saw a decline from the 10.2 per cent recorded in July 2015 to 4.4 per cent.

The figure represents a 5.8 percentage point decrease.

This means that the month-on-month change in Producer Price Index (PPI) between July and August 2015 was -3.4 per cent.

Producer inflation, which is measured by the price index, looks at the average change over time in the prices received by domestic producers for the production of their goods and services.

Briefing the media in Accra, the Government Statistician, Dr Philomena Nyarko, attributed the decrease to the decline in the prices of crude and gold on the world market.

Manufacturing, which constitutes more than two-thirds of total industry, decreased by 8.8 percentage points to record 4.1 per cent over the July rate of 8.4 per cent.

Manufacture of paper and paper products recorded the highest inflation rate of 48.7 per cent, while the manufacture of c