The Producer Price Inflation (PPI) rose to 10.3 percent in July from the 7.6 percent recorded in June 2016.
According to government statistician, Philomena Nyarko, “the rise was mainly influenced by the inflation rate in the mining sector as a result of increases in the price of gold in the world market,”
The utilities recorded the highest year-on-year price inflation rate of for July 36.6 percent, followed by mining and quarrying at 30.4 percent. The manufacturing subsector was at 1.0 percent, Nyarko said.
PPI measures the average change overtime in prices received by domestic producers for the production of their goods and services. it is a major component of consumer inflation, which has for years remained above government targets.