June Producer Price Inflation Down By 1.1%

The Producer Price Inflation (PPI) in Ghana has seen a dip from 30.3% to 29.2% in June 2023.

By the records released by the Ghana Statistical Service (GSS), PPI has reduced by 1.1% in the month under review.

This reflects on the average rate in the Mining and Quarrying; Manufacturing; Electricity and Gas; Water Supply, Sewerage, and Waste Management; Construction; Transport and Storage; Food & Accommodation; and Information & Communication sectors of the economy.

“The producer price inflation in the industry less construction sector decreased to 31.3 per cent in June 2023 from 32.5 per cent in May 2023. The rate in the construction sector decreased to 19.3 per cent in June 2023 from 20.0 per cent in May 2023. In the Services sector, the rate decreased from 18.1 per cent in May 2023 to 17.6 per cent in June 2023,” the Service notes.

It continued, “The Electricity and gas (70.6%), Transportation and storage (49.2%), Water supply, sewerage, and waste management (38.5%), Accommodation and food service activities (37.9%), and Mining and quarrying (31.0%) recorded rates above the national average, while Information.”

Also, it said communication activity recorded the lowest rate of 11.1 per cent in June 2023.”