Ghana Producer-Price Inflation Rate Falls to 18% in July

Producer-price inflation in Ghana, the second-biggest economy in West Africa, slowed to 18 percent in July from 19.1 percent a month earlier.

Prices rose 0.7 percent in the month, Philomena Nyarko, an official at the Ghana Statistical Service, told reporters today in the capital, Accra.

Costs for makers of textiles, food and beverages, and chemicals slowed in the month, Nyarko said. The manufacturing rate declined to 20 percent in July from 21.9 percent a month earlier, she said.

Mining and quarrying in Africa’s second-biggest gold producer recorded the highest increase of the groups, rising 20.3 percent from 19.5 percent in June, according to the statistical service. Utilities climbed to 10.6 percent from 10.1 percent.

To contact the reporter on this story: Pauline Bax in Accra at pbax@bloomberg.net

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

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