Producer price inflation decreases to 52.2%

Latest data from the Ghana Statistical Service, GSS, indicates that the Producer Price Inflation (PPI) for December 2022, declined to 52.2% from the 78.0% recorded in November 2022.

The decrease in the PPI rate for December 2022 represents a 25.9 percentage points decrease in producer inflation relative to the rate recorded in November 2022.

This means the month-on-month change in the PPI between November and December 2022 was -13.3%

The producer price inflation in the Industry less construction sector decreased to 65.7% in December 2022 from 94.3% in November 2022.

The rate in the construction sector decreased to 22.1% in December 2022 from 26.6 percent in November 2022.

In the services sector, the rate decreased from 12.6% in November 2022 to 10.0% in December 2022.

The mining and quarrying (73.4%), manufacturing (64.2%), transport and storage (63.6%) recorded rates above the national average, while Information and communication activity recorded the lowest rate of 2.7% in December 2022.

Source: Citi Business News