Producer Price Inflation rises to 46% in August
Annual Producer Price Inflation [PPI] for the month of August 2022, surged to 46%.
The new rate according to the Ghana Statistical Service [GSS], represents a 4.8 percentage points increase in producer inflation relative to the rate recorded in July
2022 (41.2%).
The month-on-month change in the producer price index between July 2022 and August 2022 was 4.0 percent.
Producer price inflation in the Mining and Quarrying sub-sector increased by 11.8 percentage points over the July 2022 rate of 23.9 percent to 35.7 percent in August 2022.
The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of total industry, increased by 4.4 percentage points to 61.7 percent in August 2022.
The utility sub-sector recorded 1.7 percent inflation rate for August 2022.
In August 2022, one out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 61.7 percent.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 170.3 percent, while the Manufacture of machinery and equipment recorded the least inflation rate of 3.7 percent.
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.
