Ghana’s Annual Manufacturer PPI Fell to 39.6%
Ghana’s annual. Price Inflation PPI fell to 39.6 percent in October down from a corrected figure of 47 percent year on year in September the National Statistics office told on Wednesday.
The figure is an evidence of the fiscal question facing the West African country whose gross domestic goods is prediction to fall to 3.9 percent in 2015 after years of growth through its exports of gold cocoa and oil.
The drop is affected by a lessening in utility prices and the recent balance of the cedi currency government statistician phenomena Nyarko said in a news conference.
The mining and excavating subsector recorded the highest year-on-year producer price inflation of 48.7 pct she said.
Manufacture price inflation is an latest indicator of consumer price inflation. Ghana’s PPI rose slowly through most of this year before starting to decrease in the third quarter.
Ghana’s annual consumer price inflation rose to 16.9 percent in October from 16.5 percent the previous month.
The government will try to seal a deal soon with the International Monetary Fund for financial assistance to help an economy struggling with increasing consumer price inflation a high budget deficit and a currency that has fallen sharply this year before ricochet partially.
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