Producer Price Index rises to 11.9 per cent in November

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The year-on-year inflation from the Producer Price Index (PPI) for all industry rose to 11.9 percent in November from a revised 9.7 percent in October.

The rate shows a 2.2 percentage point increase in producer inflation relative to the rate recorded in October.

The monthly change in the producer price index from October to November was 1.2 percent.

Acting Government Statistician Baah Wadieh told a press conference on Wednesday that the uptick in the rate was mainly due to inflation in the mining and quarrying and manufacturing sub-sectors.

The producer price inflation in the Mining and Quarrying sub-sector increased to a high of 19.4 percent in November, up 4.7 percentage points from 14.7 percent recorded in October.

The Manufacturing sub-sector which constitutes more than two-thirds of total industry increased by 1.9 percentage points to 4.9 percent.

The Utilities sub-sector recorded the highest year-on-year producer price inflation rate of 38.3 percent.

With respect to the monthly changes, the Manufacturing sub-sector recorded the highest rate of 2.1 percent followed by utilities sub-sector with 0.1 per cent while Mining and Quarrying sub-sector recorded the lowest rate of -1.6 percent.



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