Producer Price Inflation Declines To 30.03%

The Producer Price Inflation (PPI) for May 2023 has fallen to 30.3%.

This is a 4.0 percentage point decrease in producer inflation relative to the rate recorded in April 2023.

“The producer price inflation in the industry less construction sector decreased to 32.5 per cent in May 2023 from 37.1 per cent in April 2023.

“The rate in the construction sector decreased to 20.0 per cent in May 2023 from 20.8 per cent in April 2023. In the Services sector, the rate decreased from 19.4 per cent in April 2023 to 18.1 per cent in May 2023,” the Ghana Statistical Service (GSS) said in a statement.

Electricity and gas; Accommodation and food service activities; Transportation and storage; Mining and quarrying; and Water supply, sewerage, and waste management recorded PPI rates higher than the national average.

Information and communication activity recorded the lowest rate at 11.2%.