Skip to main content

Producer price of goods, services goes up

By Fred SARPONG
Ghana Statistical Service (GSS) Producer Price Index (PPI) report for April 2011 has indicated that producers of goods and services increased their cost to wholesalers by about 25.22%, as compared to 23.46% recorded in March, for all industries.
The utilities sector, which has a major influence on the index, recorded an inflation rate of 71.98% in April, this year, as against 71.96% in March.
The sector increased by 0.02% last month, which was a significant figure to the overall industries index as it recorded the highest rate of inflation as at April 2011.
Within the sector, electricity and water supply recorded 77.05% in April, as compared to 77.02% in March 2011. Production, transmission and distribution of electricity also recorded 77.05%, as compared to 77.02% in March 2011. Collection, purification and distribution of water maintained its rate of 13.86%.
Government Statistician, Dr. Grace Bediako, who announced this in Accra, said the performance of the utilities sector is as a result of the substantial increase in utilities prices some months ago.
Producer Price Index for the manufacturing sector, which is the largest industrial sector with about 69.75% share of all industry, went up by 1.07 % from 11.83% in March 2011 to 12.90% in April, on year-to-year basis.
Mining and quarrying went up by 6.02 % to record 38.29% in April 2011 against 32.27% in March, this year.
The monthly change in inflation for all industry was 1.38% compared to 0.97% in March. Utilities recorded the lowest monthly figure of 0.01% followed by manufacturing and mining and quarrying with 0.68% and 5.48% respectively.
In the manufacturing sector, six out of 16 major groups in the manufacturing sector recorded inflation rates higher than the manufacturing sector average figure of 12.90%. Manufacture of paper and paper products recorded the highest inflation rate of 39.25%, while manufacture of fabricated metal recorded a negative change.
During the 13 months period (April 2010 to April 2011), all industries recorded the highest inflation rate in April 2011. Between April 2010 and May 2010, the rates declined slightly, but increased in June 2010. Thereafter, the rates were quite stable until November 2010 when there was a slight drop.

Between October 2009 and December 2009, producer inflation in the manufacture of petroleum products group recorded a sharp increase. Inflation in this sector stabilized for the first two months of 2010, but dropped between March and June 2010. The rate declined in November 2010 after increasing slightly in October 2010. In January 2011 inflation in the petroleum industry jumped and continued to increase in March 2011 recording a rate of 26.08%.

Comments

Popular posts from this blog

Nestlé Ghana Limited Wins Overall Best Industrial Company Of The Year at 13th AGI Industry & Quality Awards

  Nestlé Ghana Limited has been honored with four prestigious awards at the 13th Association of Ghana Industry and Quality Awards ceremony. The event, held in an esteemed setting, gathered prominent figures from Ghana’s industrial sector. Amidst the anticipation, Nestlé Ghana emerged as one of the evening’s notable winners, securing accolades in several key categories. This recognition underscores Nestlé Ghana’s relentless pursuit of excellence and innovation, marking a significant milestone that highlights the company’s substantial contributions to the manufacturing industry in Ghana. Nestlé Ghana's exceptional performance was acknowledged with the following awards: Overall Best National Quality Award, Diamond Category (Food) Overall Best Practices in Sustainable Manufacturing Best Company (Food Sector) Overall Industrial Company of the Year, affirming its status as a leader not only within the food sector but also across Ghana's entire industrial landscape. This success is a ...

Anglogold Ashanti Obuasi Mine tops 2024 Sustainability & Social Investment Awards

 AngloGold Ashanti Obuasi Mine has confirmed its status as sustainability champions by sweeping nine awards, the most won by a company at the 2024 Sustainability & Social Investment Awards (SSI) held at Movenpick Ambassador Hotel in Accra. The feat comes on the heels of a dominant performance in last year's event where AngloGold Ashanti Obuasi Mine swept seven awards. The SSI Awards organised by Ianmatsun Global Services recognizes the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, social, and governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life. This year's event, which was the 8th edition, was under the theme "Climate Action Now: Accelerating Decarbonization and Building Resilience". The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment (project), SSI Company of the Year ( Environment), Best Co...

Zoomlion Advocates Community & Gender inclusive waste management for Climate Action at COP 29

 Africa's waste management giant, Zoomlion Ghana Limited has advocated for an integrated approach to waste management that considers the interest of community members, women and vulnerable groups. James Deku, a Communications Officer of Zoomlion Ghana Limited made this call at the 29th session of the Conference Of Parties (COP 29) of the United Nations Framework Convention for Climate Change (UNFCCC) at Azerbaijan, Baku whiles speaking on the topic "Community-Driven and Gender Inclusive approaches to waste management for Climate Action ". He said the waste sector is a major contributor of methane emissions which is a potent greenhouse gas causing climate change hence the need to manage waste in a manner that considers the interest of all stakeholders. Zoomlion's waste management model is designed and operated in a manner that considers the interest of all stakeholders. Through a Public Private Partnership (PPP) model, local authorities engage community members in clea...