Ghana’s Petroleum sector recorded -4% producer inflation in December last year, the Ghana Statistical Service (GSS) has announced on Wednesday, January 20, 2021.
The GSS explained that “The producer inflation rate in the petroleum sub-sector was 8.2 percent in December 2019.
“The rate increased to record 20.6 percent in January 2020 but declined consistently to record -15.4 percent in May 2020.
“However, the rate increased continuously to record -0.3 percent in September 2020 and declined to record -5.0 percent in November 2020. The rate increased to record -4.0 percent in December 2020.”
The producer price inflation in the Mining and Quarrying sub-sector decreased by 2.5 percentage points over the November 2020 rate of 34 percent to record 31.5 percent in December 2020.
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The producer inflation for manufacturing, which constitutes more than two-thirds of the total industry, decreased by 1.0 percentage points to record 3.8 percent.
The utility sub-sector decreased marginally by 0.1 percentage points over the November 2020 rate of 0.3 percent to record 0.2 percent.