Skip to main content

January Producer Price Index hits to 11.5%




By Fred Sarpong

Year-on-year inflation in ex-factory prices of goods was 11.5% in January 2013, recording the lowest since January, 2012. This is measured by Producer Price Index (PPI).
The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.
This means that, ex-factory prices of goods for all industry increased on average by 11.5% in January 2013 relative to the price level recorded in January, last year.
The monthly change rate was also 0.2%, meaning that compared to December 2012, the PPI increased by 0.2% in January 2013.
Baah Wadieh is the Acting Deputy Government Statistician in charge of Technical Support, he announced in Accra last week that Mining and Quarrying producer inflation rate of 18.4% decreased by 8.4 percentage points relative to the rate recorded in December 2012, which was 26.8%.
According to him the Manufacturing rate of 12.8% inflation for January 2013 was 6.4 percentage points lower than that for December 2012, recording 19.3%.
However, the Utilities sector recorded 1.2% of inflation for January 2013 and was 0.2 percentage points lower than that of December 2012 rate of 1.5%.
Wadieh noted that the significant drop for all industry of 11.5% was as a result of the decline in the manufacturing sector.
Nine out of the 16 major groups in manufacturing sector recorded inflation rates above the sector average (12.8%) in January 2013. Manufacturing of textiles recorded the highest rate of 34.3% while manufacture of coke, refined petroleum products recorded a negative inflation rate of 1.3%.
During the last 13 months, the producer inflation in the petroleum sub-sector exhibited a downward trend. The highest inflation rate of 20.7% was recorded in January and March 2012 and the lowest of negative 1.3% in January, 2013.
He also indicated that the petroleum sector, which weight is 22.5% in the PPI basket, also affected the decline of the overall index of 11.5% with significant rate.

Comments

Popular posts from this blog

Deputy AG sues Facebooker over 'malicious' Ameri deal

The Deputy Attorney-General and Member of Parliament for Bolgatanga East, Mr Dominic Ayine has filed a defamation suit at an Accra High Court against a Facebook commentator, Evron Hughes.
In Mr Ayine’s statement of claim, sighted by Graphic Online, he accused Mr Hughes of defaming him in a post he authored and published on Facebook on December 21, 2015, titled “RE: AMERI TRANSACTION”.
According to the Deputy A-G, the “false and malicious” post has provoked “public disaffection” against him and exposed him to public ridicule and contempt.
Describing Mr Hughes as a “self-styled social media blogger and a social commentator”, Mr Ayine said the Facebook post had brought his hard-won reputation “as a respected politician, teacher and lawyer” into “hatred, ridicule, odium, discredit, contempt, opprobrium and reproach”.
The Deputy A-G said the “defamatory words” were authored with the sole intent to reduce him in the estimation of all right thinking Ghanaians, adding that he had received numerou…

Meet Ghanaian female shoemaker

The Saint Ozwald shoe brand

By: Fred Yaw SARPONG
The Daily Express

From her humble beginning in Sunyani in the Brong Ahafo region, a senior high female graduate from the Twene Amanfo Senior high in the Brong Ahafo Sunyani and a Ghanaian now boasts of being one of the most popular Made-in-Ghana shoe brands and has the most number of celebrity endorsements.
Sandra Ozwald, CEO of Saint Ozwald

After Sandrah Ozwald completed school in 2013, her parent couldn't have enough money to help her continue school so she planned to do something for herself by selling ice cream, groundnut cakes or food. Back at the senior high, Sandra used to make groundnut cakes, condensed toffees and ice cream to support herself since her mother couldn't provide all for her.

With 12 siblings and the only girl child (2nd born) among them, and whiles planning which of these to sell, Sandra attended a friend’s wedding and the grooms shoe looked so attractive to her.

According to her, the groom’s shoes were Ma…