Baah Wadieh, Acting Government Statisticians (right) at a press conference Year-on-year inflation in ex-factory prices of goods and services have increased to 9.8 percent in October 2016 relative to the
The post Ex-Factory Prices Climb To 9.8% appeared first on Daily Guide Africa.
Baah Wadieh, Acting Government Statisticians (right) at a press conference
Year-on-year inflation in ex-factory prices of goods and services have increased to 9.8 percent in October 2016 relative to the price level recorded in October 2015.
The rate is 0.1 percentage point higher than the rate in September 2016.
The monthly change rate for October 2016 was -0.4 percent, which means that compared to September 2016, the PPI decreased by 0.4 percent in October 2016.
The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.2 percent, followed by the mining and quarrying sub-sector with 14.7 percent.
The manufacturing sub-sector recorded the lowest year-on-year inflation rate of 3.0 percent.
With respect to the monthly changes, the manufacturing sub-sector recorded the highest rate of 0.9 percent while mining and quarrying sub-sector recorded the lowest rate of -3.9 percent.
The utilities sub-sector rate for October 2016 remained unchanged compared with that of September 2016 (38.2%).
With mining and quarrying, the producer inflation rate decreased by 7.5 percentage points in October 2016 relative to the rate recorded in September 2016 (22.2%), while with manufacturing, the rate for October 2016 was 1.6 percentage points higher than that of September 2016 (1.4%).
New Base Year For CPI
Meanwhile, the Ghana Statistical Service (GSS) has announced that it has commenced works to rebase the Consumer Price Index (CPI) used to measure the country’s inflation from the current base year of 2012 to a new base year of 2017.
According to the service, the rebasing will also enable the restructuring of prime building cost index, which is used to calculate key items that go into the inflation basket.
Speaking at the celebration of the African Statistics Day, Acting Government Statistician, Baah Wadieh, disclosed that codebooks for the basket of 400 proposed items have been compiled for 42 CPI markets in the 10 regions and are ready for editing and classification.
By Cephas Larbi
The post Ex-Factory Prices Climb To 9.8% appeared first on Daily Guide Africa.
Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS