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Producer Price Inflation Up

 

producers_priceThe Producer Price Inflation (PPI) for all industry shot up in September 2009 to 15.52 percent after recording 14.12 percent in August.

Apart from the mining and quarrying sector, the other sectors recorded annual inflation rates that were less than the all industry inflation rate.

The monthly change in the all industry for September 2009, which is the percentage change in the PPI between August 2009 and September 2009, was 1.87 percent.

The manufacturing sector, which is the most important industrial sub-sector with 69.75 percent share of all industry, recorded an inflation rate of 10.63 percent. 
It therefore went up after recording 9.99 percent in August.

Importantly, there was an appreciable inflation rate in the manufacture of tanning and dressing of leather (46.22 percent) sub-groups, while manufacture of coke, refined petroleum products and nuclear fuel recorded a negative inflation rate of 5.48 percent.

Inflation in petroleum contributed significantly to inflation in the manufacturing sector.

Between September and December 2008, inflation in the petroleum group reduced significantly and remained negative in the first nine months of 2009.

Mining and quarrying recorded the highest inflation rate of 53.33 percent after recording 50.07 percent in August.

Utilities, which comprise of production, transmission, distribution of electricity and collection and purification and distribution of water, recorded 1.30 percent inflation.

The all industry year-on-year inflation had been relatively stable for the first five months of 2009, averaging 11.89 percent.

There was however an upsurge in inflation rate in June to 17.34 percent-the highest for the year, before reducing to 14.12 percent in August. 

Credit: dailyguideghana.com

 

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