Producer Price Inflation reaches 31.2% in April
Producer Price Inflation [PPI] continues its upward trend reaching 31.2% at the end of the month April 2022.
The new PPI marks an increase of 1.9% from the previous month’s – March 2022 – PPI of 29.3%.
According to the Ghana Statistical Service (GSS), month-on-month change in producer price index between March 2022 and April 2022 was 1.1%.
The Manufacturing sub-sector, the GSS notes, recorded the highest year-on-year producer price inflation rate of 38.6 percent, followed by the Mining and Quarrying
sub-sector with 35.2 percent.
The Utility sub-sector recorded the lowest year-on-year producer inflation rate of 1.1 percent.
The manufacturing sub-sector recorded the highest monthly inflation rate of 1.6 percent, followed by the mining and quarrying sub-sector recorded a rate of 0.4 percent.
The utility sub-sector recorded no inflation in the month of April.
The producer price inflation in the Mining and Quarrying sub-sector increased by 1.6 percentage points over the March 2022 rate of 33.6 percent to 35.2 percent in April 2022.
The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.6 percentage points to 38.6 percent.
In April 2021, the producer price inflationrateforall industry was 10.9 percent. The rate increasedtoa record 11.8 percent but decreased continuouslytorecord 8.1 percent in August 2021.
Subsequently, it resumes an upward trend to record 31.2 percent in April 2022.
The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The PPI for Ghana reports the producer price indices with reference to September 2006, the base period.