Prime News Ghana

Increased manufacturing pushes PPI for April to over 11%

By PrimeNewsGhana
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The average price of goods and services received by domestic producers in the country for their production activities, in the month of April 2021 went up by 11.1%, when compared with the prices received by the producers in April 2020.

The increase in prices which brings the producer price inflation rate for April 2021, to 11.1%, represents a 1.9 percentage point decrease in producer price inflation relative to the rate recorded last month which was 13%.

Sectoral breakdown

The producer price inflation in the Mining and Quarrying sub-sector decreased by 10.8 percentage points over the March 2021 rate of 22.7% to record 11.9% in April 2021.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, decreased by 0.4 percentage points to record 13.7%.

The utility sub-sector recorded an inflation rate of 0.2% for April 2021 indicating a marginal decrease of 0.1 percentage point over the March rate of 0.3%.

In April 2021, five out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 13.7%.

Manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation rate of 37.3%, while the Manufacture of electrical machinery and apparatus n.e.c. and Manufacture of machinery and equipment n.e.c. recorded the least inflation rate of 0.0 percent