The Producer Price Inflation (PPI) for the month of May hit a record high of 33.1 percent.
This is the highest rate recorded since January 2010.
The Producer Price Inflation measures the prices from domestic producers for their production of goods and services.
The month of May’s PPI rate was up from a rate of 31.3 percent recorded in April. The Manufacturing sector recorded an inflation rate of about 27.5 percent.
This sector’s inflation was dominated by the manufacture of machinery and equipment subgroup which recorded staggering high rate of 76 percent.
The recovery of gold prices on the international market pushed up inflation in the Mining and Quarrying sector.
The sector’s inflation rate increased from 10 percent recorded in April to a rate of 35 percent in May. Utilities however recorded an inflation rate of about 57 percent.
By: Anim Kwaku Boadu/citifmonline.com/Ghana
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