Producer Price Inflation for December declines by 0.8% to close the year 2021

The Producer Price Inflation for the month of December has declined by 0.8 percentage points lower than the rate recorded in November 2021 which stood at 13.6% as it closed the year 2021, with 12.8%.

The Monthly Producer Price Inflation between November 2021 and December 2021 was -0.2%.

The Year-on-Year Producer Price Inflation for the sub-sectors for December 2021in Manufacturing subsector stood at 19.2 %, Utilities subsector recorded 0.2 % whereas Mining and Quarrying subsector stands at 0.1 %.

For the monthly Producer Price Inflation for the sub-sectors for the period under review, Utility recorded 0.0 %, Manufacturing, -0.1%, and Mining and Quarrying stood at -0.8%.

These were contained in a press statement read at the news conference by the Government Statistician, Professor, Samuel Kobena Annin on Wednesday, 19th January 2022 in Accra.

The Producer Price Index (PPI) measures the average change over time in the selling prices of goods and services as received by domestic producers.

Sellers’ and purchasers’ prices may differ due to government subsidies, sales and excise taxes, and distribution costs. The rate of producer inflation is the relative change in PPI between periods. The PPI relates prices in a particular month to those of the base.

Source: gbcghanaonline