Bloomberg News

Ghana’s Producer-Price Inflation Slows to 16.6% in August

September 26, 2012

Producer-price inflation in Ghana, Africa’s second-biggest gold miner, slowed to 16.6 percent in August as manufacturing costs eased, according to the Ghana Statistical Service.

The rate declined from a revised 19 percent in July, Philomena Nyarko, acting government statistician, told reporters in Accra, the capital, today. Prices rose 0.3 percent in the month, she said.

Manufacturing costs in West Africa’s second-biggest economy slowed to 18.6 percent from 20.3 percent a month earlier, according to the agency. Mining and quarrying costs eased to 16.9 percent in August from 20.3 percent in July, while utility rates were little changed at 10.5 percent, Nyarko said.

South Africa is the continent’s biggest gold producer. Companies including AngloGold Ashanti Ltd. and Newmont Mining Corp. operate in Ghana, while units of Diageo Plc and Unilever Plc are among the largest manufacturers.

To contact the reporters on this story: Pauline Bax in Accra at pbax@bloomberg.net; Moses Mozart Dzawu in Accra at mdzawu@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net


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