Producer Price Inflation (PPI) for the month of August hit a record high of 48.3%, the highest rate ever recorded in Ghana.
The producer price inflation rate measures the average change over time in the prices received by domestic producers for their production of goods and services.
The August rate of 48.3% increased from a rate of 47.2percent recorded in the month of July, 2014.
The monthly inflation rate was however at 1.7percent indicating a decline from 10 percent recorded in July.
A challenging business environment continued to shoot up prices of manufacturing companies.
The sector’s inflation rate increased from 40.3 percent to 41.9percent.
The utilities group’s inflation declined from 76.8percent to 75.8percent.
Mining and quarrying sector recorded an inflation rate of 50.7%.
In this group, refined petroleum and nuclear fuel recorded the highest inflation rate of 68.6percent.
