PRODUCER PRICE INFLATION 2021 SUMMARY


GHANA PRODUCER PRICE INFLATION 2021 

concise

Producer Price Inflation is the increase in the general price of goods and services due to the rise in the cost of production of goods and services.

∎ As of February 2021, the producer price inflation has increased by 10.3% compared to February 2020.

∎ This 10.3% increase indicates a 1.6% increase in the producer price inflation rate from January to February 2021.

∎ The main factor that accounted for the 1.6% increase was the food and beverages manufactured products which went from 5.4% in January to 6.9% in February. 



∎ Other factors also contributed to 23% of the Producer Price Inflation like the manufacture of Petroleum and coke.

∎  Monthly comparison of January to February 2021, Producer Price Inflation was -1.0% that indicates a deflation.

Across subsectors of the economy,

∎ The mining and quarrying sector recorded the highest Producer Price Inflation of 24.2%.

∎  Manufacturing Sector recorded 9.8% after Mining and Quarrying sector

∎ The utility subsector recorded 0.4% after the Manufacturing Sector.

Also;

∎ On monthly analysis (January and February), the manufacturing subsector recorded 0.5% followed by the utility subsector which did not record any changes (0.00%) and deflation in the Mining and Quarrying sector of -2.7%.



By: Francis Kortey (Statistics II, KNUST)


Source: GSS


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