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Saturday, April 20
“We expect the increased utilisation of spare production capacity to sustain the recovery in the manufacturing and trade sub-sectors”, the report said, adding: “We, however, view the rising cost of production occasioned by the tax hikes, transport fare hikes, and higher fuel cost as a downside risk to the expansion in manufacturing and trade.” It noted, however, that the food harvest season in the third quarter of 2021 and the main cocoa season in the fourth quarter of 2021 “should propel agriculture growth in the second half of the year, albeit with some risk from the unfavourable rainfall pattern across the southern sector”.
The producer price inflation in the Mining and Quarrying sub-sector decreased by 3.2 percentage points over the May 2021 rate of 12.7 per cent to a record 9.5 per cent in June 2021.
In May 2021, the rate rose to 11.8 per cent but decreased to 10.1 per cent in June 2021.
This rate represents a 1.7 percentage point decrease in producer inflation relative to the rate recorded in May 2021 (11.8%).
The month-on-month change in producer price index between May 2021 and June 2021 was 1.1 per cent..
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