By Fred SARPONG
Figures released by the Ghana Statistical Service (GSS) indicate that ex-factory prices of goods measured by the Producer Price Index (PPI) for May 2010 declined slightly by 0.76% to 16.14% from 16.90% recorded in April, this year.
This implies that ex-factory prices for the all industries, which include manufacturing, mining and quarrying and utilities sub-sectors, were an average of 16.14% higher in May 2010 than the figure recorded in May 2009.
The rates of producer price inflation for these sub-sectors were mining and quarrying, 22.98%; manufacturing, 18.39% while utilities was flat.
The rate of producer price inflation in May 2010 dropped for manufacturing and the utilities by 2.88% and 0.09% respectively, while mining and quarrying also went down by 1.18% points.
The mining and quarrying sector exhibited the highest rate of inflation of 22.98%. Substantially, the price of gold on the international market has the major influence on the mining and quarrying sector, which recorded the highest rate of inflation as far as all index of 16.14% is concern.
The utilities subsector continues to record the lowest price change due to the regulated priding of its output.
In the manufacturing sector, there was a substantial inflation in the manufacture of coke and refined petroleum products, which recorded 45.34% contributing significantly to the change in the all industry index.
Also, manufacture of motor vehicles, trailers and semi-trailers and manufacture of chemicals and chemicals products recorded negative inflation rates of 12.53% and 0.99% respectively.
Meanwhile, the monthly change in all industries for May 2010 producer price inflation was 1.13%.
The corresponding changes for the major sub-sectors were mining and quarrying 4.82%, manufacturing 0.40% and utilities negative 0.08%.
The all industry year-on-year average inflation for the first five months of 2010 was 20.12%. During the 12-months period May 2009 to May 2010, the industry sector recorded the highest inflation rate of 27.71% in December 2009. However, the rates have been declining since January, this year.
The change rates in the petroleum group have had a major influence on the manufacturing sector. Between May 2009 and October 2009, producer price inflation in this industry recorded a negative rate.
It however recorded a positive rate thereafter, with the highest rate for the last 12-month period being December 2009 which was 63.04%. This industry recorded a 2009 yearly average producer inflation of negative 6.67%. The rate for May 2010 was 0.12 percentage points higher than the April 2010 figure.
Figures released by the Ghana Statistical Service (GSS) indicate that ex-factory prices of goods measured by the Producer Price Index (PPI) for May 2010 declined slightly by 0.76% to 16.14% from 16.90% recorded in April, this year.
This implies that ex-factory prices for the all industries, which include manufacturing, mining and quarrying and utilities sub-sectors, were an average of 16.14% higher in May 2010 than the figure recorded in May 2009.
The rates of producer price inflation for these sub-sectors were mining and quarrying, 22.98%; manufacturing, 18.39% while utilities was flat.
The rate of producer price inflation in May 2010 dropped for manufacturing and the utilities by 2.88% and 0.09% respectively, while mining and quarrying also went down by 1.18% points.
The mining and quarrying sector exhibited the highest rate of inflation of 22.98%. Substantially, the price of gold on the international market has the major influence on the mining and quarrying sector, which recorded the highest rate of inflation as far as all index of 16.14% is concern.
The utilities subsector continues to record the lowest price change due to the regulated priding of its output.
In the manufacturing sector, there was a substantial inflation in the manufacture of coke and refined petroleum products, which recorded 45.34% contributing significantly to the change in the all industry index.
Also, manufacture of motor vehicles, trailers and semi-trailers and manufacture of chemicals and chemicals products recorded negative inflation rates of 12.53% and 0.99% respectively.
Meanwhile, the monthly change in all industries for May 2010 producer price inflation was 1.13%.
The corresponding changes for the major sub-sectors were mining and quarrying 4.82%, manufacturing 0.40% and utilities negative 0.08%.
The all industry year-on-year average inflation for the first five months of 2010 was 20.12%. During the 12-months period May 2009 to May 2010, the industry sector recorded the highest inflation rate of 27.71% in December 2009. However, the rates have been declining since January, this year.
The change rates in the petroleum group have had a major influence on the manufacturing sector. Between May 2009 and October 2009, producer price inflation in this industry recorded a negative rate.
It however recorded a positive rate thereafter, with the highest rate for the last 12-month period being December 2009 which was 63.04%. This industry recorded a 2009 yearly average producer inflation of negative 6.67%. The rate for May 2010 was 0.12 percentage points higher than the April 2010 figure.
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