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Ghana's December PPI slumps to 4.9 pct

Xinhua, January 26, 2017 Adjust font size:

Ghana's factory gate prices fell in December 2016 to result in a 7-percentage-point dip in industry inflation to 4.9 percent year-on-year, according to the Ghana Statistical Service(GSS).

The monthly change rate for the month under review was minus 0.6 percent, relative to the 1.2 percent recorded in November.

Deputy Government Statistician Anthony Amuzu told journalists on Wednesday that the mining and quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 15.6 percent, followed by the manufacturing sub-sector with 5.5 percent.

"The utilities sub-sector recorded the lowest year-on-year inflation rate of minus 7.0 percent," Amuzu said.

Amuzu attributed the huge slump in producer inflation partly to the lower inflation in mining and quarrying, the result of lower gold prices on the world stage. Endit