Producer Inflation Declines To 45.6%
Producer Price Inflation has seen a decline after a while now in Ghana.
The Ghana Statistical Service (GSS) reports that the year-on-year inflation for September 2022 was 45.6%, a 1.6% decline in producer inflation.
In August 2022, the GSS recorded a producer inflation rate of 46.0%.
The Construction and Service sectors contributed to the current decline.
Construction Producer Inflation
The Construction Producer Price Inflation (CPPI) rate for September 2022 was 25.1 percent.
This is a 1.1 percentage point decrease in producer inflation relative to the 26.2% recorded in August 2022 (26.2%).
This sector is made up of the construction subsector, civil engineering subsector and specialized subsector.
“The inflation in the construction of buildings subsector increased by 4.4 percentage points over the August 2022 rate of 84.5 percent to 88.8 percent in September 2022.
“The rate for the civil engineering sub-sector decreased by 2.5 percentage points to 5.4 percent in September 2022.
“The specialized construction activities subsector recorded a 5.2 percent inflation rate for September 2022 compared with compared with 6.1 percent in August 2022.”
Service Producer Price Inflation
The Service Producer Price Inflation (SPPI) rate for September 2022 is 5.6 percent.
This rate represents a 0.1 percentage point decrease in Service Producer Price inflation relative to the rate recorded in August 2022 (5.7%), the GSS stated.
“Transport and Storage sub-sector increased by 1.5 percentage points over the August 2022 rate of 25.7 percent to 27.3 percent in September 2022.
“The rate for the Accommodation and food sub-sector increased by 4.5 percentage points to 24.9 percent in September 2022.
“The Information and communication sub-sector recorded a 0.9 percent inflation rate for September 2022 as compared to 1.5 percent in August 2022.”
Industry Producer Price Inflation
According to the GSS, the Industry Producer Price Inflation (IPPI) rate for September 2022 was 54.5 percent.
This rate represents a 5.6 percentage point relative to the rate recorded in August 2022 (48.0%).
“The Industrial producer price inflation in the Mining and Quarrying sub-sector increased by 2.4 percentage points over the August 2022 rate of 55.1 percent to 57.5 in September 2022.
“The producer inflation for the Manufacturing sub-sector increased by 7.8 percentage points to 58.2 percent in September 2022.
“The Electricity and gas recorded a 24.0 percent inflation rate for September 2022 indicating an increase of 8.6 percent over August rate of (7.8%).
“Water supply, Sewerage and Waste Management sub-sector recorded inflation of 13.6 percent.”
Source: opemsuo.com/Hajara Fuseini
