Transcript

Hello, thank you for joining us. Today's numbers tell an important story for Ganesh producer price inflation. It has slowed to its lowest level since November 2023. This is a settlement in a row that year on year producer inflation has come down. In July 2025, producer prices rose just 3.8% compared to the same time last year. That is a sharp drop from the 5.8% in June and a huge fall from over 29% same time last year. It means that cost pressures at the factory level are easing, giving us some breathing room in the fight against inflation. The producer price index, which tracks average change in prices received by our domestic producers, stood at 262.5 points in July. Up from 258.2 point in June. Month on month, that's a 1.6% increase. What is behind this drop in producer inflation? The Mining and Quarrying sector, our largest with the weight of almost 44%, saw prices ease from 6.5% in June to 4.6% in July at 1.9 percentage .4. Manufacturing, which makes up 35% of the index, fell from 7. 2% to 3.6% at 3.6 percentage point drop. Construction eased from 6% to 5.3%. Electricity and gas rose from 5.1% to 6.7%, adding pressure in energy costs, water supply, sewerage and waste management. Ticked up slightly from 3.6% to 4.1%. Some sectors are seen outright price drops. Transport and storage costs fell further from -7% in June to -8.1% in July, and accommodation and food prices state CD at 2.6%. What are the implications of all these? Lower producer inflation can translate into slower consumer price growth, but only if cost savings flow through the supply chain. Businesses paying less for raw materials and services have an opportunity to pass those savings on. That drop in mining and manufacturing prices is especially significant as these sectors drive a large share of our industrial output. What does all this mean for the government? For the business community and for households, for governments. Locking stability. Support mining and manufacturing with targeted incentives to boost production, protect jobs, and sustain the downward inflation trend. For businesses, use lower input costs to innovate and stay competitive rather than only adjusting margins. For households, watch prices closely when producer cost drop. Retail prices you follow, so shop smarts and question markups. 6 months of fallen producer inflation is encouraging for Garner's economy. The challenge now is ensuring that these cost reductions are felt in markets, shops and households across the country. Let us together keep the momentum going. Are they gonna statistical service? We remain committed to providing timely and reliable data to support decision making at every level of the development value chain, ensuring that policies, business strategies and household choices are all grounded in the best evidence available. Thank you very much.