Increased Manufacturing Pushes PPI For April To Over 11percent

Prodcer price Prodcer price

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 11.1percent, 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 11.1percent, represents a 1.9 percentage point decrease in producer price inflation relative to the rate recorded last month which was 13percent.

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 22.7percent to record 11.9percent 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 13.7percent.

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

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

Manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation rate of 37.3percent, 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.

Source: www.theheraldghana.com