Recent data from the Ghana Statistical Service, GSS, indicates that the Producer Price Inflation (PPI) for the month of January, 2023 fell marginally to 52.1%, from the 52.2% recorded in December 2022.
Producer price inflation is the average prices of goods and services received by domestic producers for their production activities.
Per the latest data from the Ghana Statistical Service, this rate indicates that between January 2022 and January 2023, the rate increased by 52.1%, representing a 0.1 percentage point decrease in producer inflation relative to the rate recorded in December 2022.
The month-on-month change in the PPI between December 2022 and January 2023 was 0.9%.
It also notes that the Mining and Quarrying, Transport and Storage, and Manufacturing sectors which recorded rates of 68.2%, 62.6% and 53.3% respectively where all above the national average, while Information and Communication Activity recorded the lowest rate of 1.2% in January 2023.
The producer price inflation in the construction sector decreased to 20.4% in January 2023 from 22.1% in December 2022.
The services sector also saw a decrease from 10.5% in December 2022 to 9.5% in January 2023.
Source:citibusinessnews.com
