Ghana: Producer Price Inflation Drops to 29.2 Percent in June

31 July 2023
Ghanaian Times (Accra)

The year-on-year Producer Price Inflation (PPI) fell from 30.3 per cent in May to 29.2 per cent in June, the Ghana Statistical Service (GSS) has announced.

This represent 1.1 percentage point decrease in producer inflation relative to the rate recorded in May, and the GSS said the producer inflation rate for June was provisional.

It said the monthly PPI rate for June stood at 0.6 per cent from -2.7 per cent in May.

The Producer Price Index measures the average change over time in the prices received by domestic producers to produce their goods and services.

Government Statistician, Professor Samuel K. Annim, who announced this in Accra on Wednesday, said producer inflation for mining fell to 31.3 per cent in June from 32.5 per cent in May, while the PPI rate for the construction sector fell marginally to 19.3 per cent in June from 20.0 per cent in May.

He said the PPI rate for the service sector also fell to 17.6 per cent in June from 18.1 per cent in May.

"Electricity and gas (70.6 per cent), transportation and storage (49.2) per cent, water supply, sewerage, and waste management (38.5 per cent), accommodation and food service activities (37.9 per cent), and mining and quarrying (31.0 per cent) recorded rates above the national average of 29.2 per cent," Prof. Annim, stated.

He said information and communication activities recorded the lowest rate of 11.1 per cent in June 2023.

Read the original article on Ghanaian Times.

Tagged:
Copyright © 2023 Ghanaian Times. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.