The rate at which manufacturing companies in Ghana produce their goods has increased sharply to 16.3 percent. This figure is 5.3 percentage points higher than the producer price index recorded for December 2015. According to government statistician, Dr. Philomina Nyarko, the manufacture of chemicals and chemical products, leather, paper and wood are the major factors driving the producer price index recorded for January 2016.
According to government statistician Dr. Philomina Nyarko the monthly change rate for January was 3.3 percent. The utilities sub sector also recorded the highest year on year producer price inflation rate of 56.6 percent, followed by the manufacturing sub-sector with 11.4 percent.
The mining and quarrying sub-sectors recorded the year on year inflation rate of 2.9 percent. The producer price inflation in the mining and quarrying sub sector decreased by 1.9 percentage points over the December 2015 rate of 4.8 percent, to record 2.9 percent in January 2016.
Manufacturing, which constitutes more than two-thirds of total industry increased by 7.7 percentage points to record 11.4 percent? The utilities sub sector recorded an inflation rate of 56.6 percent in January and remained unchanged over the December 2015 rate.
In all the monthly changes in the producer price index indicated that manufacturing recorded the highest monthly change rate of 4.3 percent, followed by the mining and quarrying sub sector with 2.3 percent.