Producer Price Inflation hits 65% in October
Producer Price Inflation (PPI) rate for the month of October 2022 according to the Ghana Statistical Service (GSS) was 65.2%.
The recorded PPI rate for October 2022 indicates a month-on-month (MoM) increase of 19.3 percentage points when compared to the 45.9% PPI rate recorded in September 2022.
The producer price inflation for industry increased to 75.6% in October 2022 from 54.5% in September 2022.
PPI rate in the construction sector declined from 25.1% in September 2022 to 23.0% in October 2022.
In the services sector, the rate increased from 5.6% in September 2022 to 10.0% in October 2022.
The rate for mining and quarrying (86.4%), manufacturing (73.1%), transport and storage (71.4%) recorded the highest rates, while information and communication activity recorded the lowest rate of 1.4% in October 2022.
The PPI measures the average change over time in the prices received by domestic producers for production of goods and services.
