Producer Price Inflation (PPI) rate for the month of November 2020 increased by 0.4 percentage points to 8.8 per cent from the previous rate of 8.4 per cent in October, 2020.
The recorded 8.8 per cent PPI rate for November 2020, according to the Ghana Statistical Service (GSS) also indicates a year-on-year increase of 8.8 per cent for the period between November 2019 and November 2020.
The month-on-month change in producer price index between October 2020 and November 2020 was 0.6 percent.
Trends as observed by the GSS with regards to the PPI rate reveal that PPI in November 2019 for all industry was 9.9 percent.
The rate increased consistently to 14.5 percent in January 2020 but declined to 6.8 percent in March 2020.
After that, the rate increased continuously to record 9.5 percent in June 2020 but declined to 9.0 percent in August 2020.
The rate increased further to record 9.7 percent in September 2020 but declined to record 8.4 percent in October 2020 before subsequently rising to 8.8 per cent this month.
For industry sub-sectors such as Mining and Quarrying, PPI increased by 2.7 percentage points over the October 2020 rate of 35.3 percent to record 38.0 percent in November 2020 – recording the highest year-on-year PPI rate.
Also, PPI for Manufacturing, which constitutes more than two-thirds of the total industry, decreased marginally by 0.1 percentage points to record 5.0 percent.
The utility sub-sector on the other hand, increased marginally by 0.2 percentage points over the October 2020 rate of 0.3 percent to record 0.5 percent.
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.
