Bloomberg News

Ghana Producer-Price Inflation Rate Fell to 16.8% in October

November 23, 2011

(Updates with mining and quarrying inflation in third paragraph.)

Nov. 23 (Bloomberg) -- Ghana’s producer-price inflation rate fell for the first month in four in October as mining and quarrying costs decreased.

Inflation eased to 16.8 percent from 19.6 percent a month earlier, Grace Bediako, head of the Ghana Statistical Service, told reporters in Accra, the capital, today. Prices fell 0.9 percent in the month, she said.

The increase in mining and quarrying costs, which account for 14 percent of the overall index, slowed to 31.6 percent from 50.7 percent in September, Bediako said. Ghana is Africa’s second-biggest gold producer and also mines diamonds, manganese and bauxite.

Manufacturing costs, which make up 70 percent of the index, increased 16.9 percent in October, compared with 16.6 percent, while utility costs rose 8 percent from 7.7 percent in September, Bediako said.

--Editors: Emily Bowers, Dulue Mbachu

To contact the reporter on this story: Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.


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