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Producer Price Inflation Rate slightly itches up at 8.8% in November

Producer Price Inflation Rate slightly itches up at 8.8% in November
LISTEN DEC 16, 2020

The Producer Price Inflation (PPI) rate rose slightly in November to 8.8 percent compared with a revised 8.4 percent recorded in October.

The month-on-month change in producer price index between October 2020 and November 2020 was 0.6 percent.

Mr Anthony Krakah, Head of Industrial Statistics, attributed the slight increase to the producer price inflation in the Mining and Quarrying sub-sector.

The Mining and Quarrying sub-sector producer price inflation rose 2.7 percentage points to record 38.0 per cent compared to 35.3 per cent in October.

The producer inflation in the manufacturing sub-sector, which constitutes more than two-thirds of the total industry, decreased to record 5.0 per cent.

The Utility sub-sector saw a marginal increase of 0.2 percentage points to record 0.5 per cent.

---GNA

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