{"id":234610,"date":"2016-07-27T14:46:16","date_gmt":"2016-07-27T14:46:16","guid":{"rendered":"http:\/\/citifmonline.com\/?p=234610"},"modified":"2016-07-27T14:46:16","modified_gmt":"2016-07-27T14:46:16","slug":"producer-price-inflation-declines-to-7-6-in-june-2016","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=234610","title":{"rendered":"Producer Price Inflation declines to 7.6% in June 2016"},"content":{"rendered":"<p>The year on year Producer Price Inflation (PPI) declined to 7.6 % in June from a <span style=\"color: #666699;\"><strong><a style=\"color: #666699;\" href=\"http:\/\/citibusinessnews.com\/index.php\/2016\/06\/22\/ghanas-may-2016-producer-prices-index-rises-to-11-3\/\" target=\"_blank\">revised 11.0 % recorded in May<\/a><\/strong><\/span> this year.<\/p>\n<p>[contextly_sidebar id=&#8221;8L9cR4Q84IEIRZbQ4shAdr4s62NwgkGf&#8221;]The rate represents a 3.7% decrease as compared to May this year, while the month to month change in producer price index between the two months was 1.2 percent.<\/p>\n<p>The utility sub sector recorded the highest year-on-year producer price inflation rate of 36.5% followed by the manufacturing subsector with price inflation of 3.7%.<\/p>\n<p>Meanwhile the mining and quarry subsector recording the lowest producer price inflation of 0.1%.<\/p>\n<p>The Producer Price Index measures the average change overtime in prices received by domestic producers for the production of their goods and services.<\/p>\n<p>According to government statistician Dr. Philomena Nyarko, the decrease follows the decline in commodity prices.<\/p>\n<p>\u201cIn terms of the driving force we are seeing a decrease in all industry inflation rate from the 11.0% to the 7.6% in June. It is also affected by the world commodity prices. So as the world commodity prices go down, then the price of our exports also go down.\u201d<\/p>\n<p>Though the utilities subsector remained unchanged in its monthly change rate, the mining and quarry subsector recorded the highest monthly change rate of 6.0%.<\/p>\n<p>The manufacturing subsector recorded 0.4% in monthly change rate.<\/p>\n<p>The petroleum sub sector continues to see a decline from the beginning of the year where it began with PPI of 3.3% but ended the half year (June 2016) with negative 4.7%.<\/p>\n<p>&#8211;<\/p>\n<p>By: Norvan Acquah &#8211; Hayford\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The year on year Producer Price Inflation (PPI) declined to 7.6 % in June from a revised 11.0 % recorded in May this year. [contextly_sidebar id=&#8221;8L9cR4Q84IEIRZbQ4shAdr4s62NwgkGf&#8221;]The rate represents a 3.7% decrease as compared to May this year, while the month to month change in producer price index between the two months was 1.2 percent. The [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":223256,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,171,11],"tags":[],"class_list":["post-234610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/234610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=234610"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/234610\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/223256"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=234610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=234610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=234610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}