Producer Price Inflation hits 43.9%

Data from the Ghana Statistical Service (GSS) indicates that the country’s Producer Price Inflation (PPI) has increased to 43.9% for the month of April 2023.

What this means is that the PPI rate indicates that between April 2022 and April 2023, the country’s PPI witnessed a 2.1 per cent point increase in producer inflation relative to the rate recorded in March 2023.

In March 2023, the PPI rate for the country stood at 41.8 per cent. For March, the month-on-month change in the PPI between March 2023 and April 2023 was 2.8%.

According to the report from GSS, in the industry-less construction sector, the producer price inflation increased to 43.9 per cent in April 2023 from 41.1 per cent in March 2023.

The rate in the construction sector increased to 20.9% in April 2023 from 18.5% in March 2023. In the services sector, the rate increased from 18.2% in March 2023 to 18.4% in April 2023.

The electricity and gas sector recorded at 59.0 per cent, transportation and storage recorded at 58.9 per cent, accommodation and food service activities recorded at 51.1 per cent, and mining and quarrying recorded at 45.1 per cent. T

hese recorded rates are above the national average, while Information and communication activity recorded the lowest rate of 11.8 per cent in April 2023.

EAN/BOG