The Producer Price Inflation (PPI) of Ghana for the month of November has dropped to 7.1 percent, representing a 1.2 percentage points decrease from the 8.3 percent recorded in October.
The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.
Analysis of the figures released by the Ghana Statistical Service (GSS) show that the PPI for the mining and quarrying subsector increased by 1.9 percentage points over the October 2017 rate of 12.5 percent to record 14.4 percent in November 2017.
The utilities subsector recorded no change in inflation rate as it maintained the 0.5 percent recorded in October.
The PPI rate in the petroleum subsector in November was also 27.7 percent, down from the 36.9 recorded in October.
However, the situation was the opposite in the manufacturing subsector which constitutes more than two-thirds of the total industrial sector. The subsector’s inflation decreased by 2 percentage points to record 7.3 percent.
That notwithstanding, five out of the sixteen major groups in the subsector recorded rates higher than the sector average of 7.3 percent.
These are the manufacture of coke and refined petroleum products which recorded the highest rate of 27.7 percent; manufacture of machinery and equipment 26.1 percent; manufacture of motor vehicle, trailers and semi-trailers 20.4 percent; manufacture of basic metals 14.4 percent; manufacture of furniture 11.5 percent.
This means that the construction sector continued to experience relatively high cost of production compared to other sectors. Despite this, Green Views, one of Ghana’s new real estate companies, is committed to offer value for money housing to clients, as preparations are underway to sell out its ultra-modern luxurious apartments located in Airport Residential Area, Accra, by mid 2018.
The apartment is made of eight one bedroom, eight two bedrooms, eight three bedrooms, and four duplexes (four bedrooms), all with spacious balconies.