Ghana Producer Inflation Slows to Lowest in Almost Four Years

Producer-price inflation in Ghana eased to 11.5 percent in January, the lowest since May 2009, as growth in mining costs slowed, according to the country’s statistics agency.

The rate dropped from 17.1 percent in December, Baah Wadieh, an official with Ghana Statistical Service, told reporters in Accra, the capital, today. Prices rose 0.2 percent in the month.

Mining and quarrying costs slowed to 18.4 percent in January from 26.8 percent a month earlier, he said. The rate for the manufacturing industry declined to 12.8 percent from 19.3 percent while utilities were 1.2 percent.

Ghana is Africa’s second-biggest producer of gold, with companies including AngloGold Ashanti Ltd. and Gold Fields Ltd. operating in the West African nation, which also exports cocoa and crude oil.

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

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net

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