Ghana’s petroleum sector recorded -4% PPI in December 2020

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.

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.