Skip to main content

Ghana’s producer price Inflation drop to 3.7%

Ghana's producer price inflation (PPI) fell to 3.7 percent in September from a revised 3.9 percent in August, continuing a downward trend, the statistics office said on Wednesday.

The reduction, after a sharp drop last month, is good news for the government which started an International Monetary Fund programme in April to stabilize an economy plagued by fiscal troubles and inflation persistently above target.

"The utilities sub-sector recorded the highest year-on-year producer price inflation of 7.2 percent, followed by the manufacturing sub-sector of 4.3 percent," government statistician Philomena Nyarko told a news conference. Mining stood at -2.1 percent.

Ghana's PPI has dropped from 47 percent since Sept 2014 driven by a fall in the prices of gold and petroleum products, Nyarko said.

Until 2013, Ghana had some of the strongest growth rates in Africa due to its exports of gold, oil and cocoa. A combination of lower global commodity prices and macro-economic instability have set it back.

Fitch ratings agency said recently that gross domestic product would grow 3 percent in 2015, below the average for sub-Saharan Africa.

Credit: Reuters


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…