Ghana’s Petroleum sector recorded -4% producer inflation in December last year, the Ghana Statistical Service (GSS) 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 but increased to 20.6 percent in January 2020 before consistently declining 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 further decreased to record -4.0 percent in December 2020,” said government’s statistician, Professor Samuel Annim.
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.
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.
