Home News Producer Price Inflation Hits 30.3 % | Economy

Producer Price Inflation Hits 30.3 % | Economy

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The Government Statistician at the Ghana Statistical Service (GSS), Prof. Samuel Kobina Annim, has indicated that the year-on-year Producer Price Index (PPI) for May 2023 is 30.0 per cent.

This rate indicates that between May 2022 and May 202, the PPI increased by 30.3 per cent, representing a 4.0 percentage point decrease in producer inflation relative to the rate recorded in April 2023 which was 34.3 per cent.

He also added that the month-on-month change in the PPI between April 2023 and May 2023 was -2.7 per cent.

Prof. Annim also stated that the PPI in the industry-less construction sector decreased to 32.5 per cent 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 percent in April 2023 and in the Services sector, the rate decreased from 19.4 per cent in April 2023 to 18.1 per cent in May 2023,” he added.

He also stated that electricity and gas, recorded 51.8 per cent, accommodation and food service activities, 51.0 per cent, transportation and storage, 50.7 per cent, mining and quarrying, 36.5 per cent, and water supply, sewerage, and waste management, 31.7 per cent, all above the national average.

“Information and communication activity recorded a rate of 11.2 percent in May 2023 making it the lowest rate for the month,” he stated.

Source: dailyguidenetwork.com



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