Producer Price Inflation drops to 29.9% in June 2023

The Producer Price Inflation for June this year was pegged at 29.9 percent the Ghana Statistical Service (GSS) has announced.

The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers to produce their goods and services.

The latest figures indicate a 1.1 percentage point decrease in the PPI relative to the rate recorded in May 2023 which was 30.3 percent.

Government Statistician, Prof. Kobina Annim, speaking with journalists in Accra on July 19 explained that the month-on-month change in the PPI between May and June 2023 was 0.6 percent.

Among key sectors of the economy, the PPI for Construction decreased to 31.3 percent in June 2023 from 32.5 percent in May 2023 while the rate for the Services sector decreased from 18.1 percent in May to 17.6 percent in June 2023.

The Electricity and gas sector (70.6%), Transportation and storage (49.2%), Water supply, sewerage, and waste management (38.5%), Accommodation and food service activities (37.9%), and Mining and quarrying (31.0%) all recorded rates above the national average, while the Information and communication activity recorded the lowest rate of 11.1 percent in June 2023.

MA/NOQ

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