By Roselyn Gayaglo
Recent data from the Ghana Statistical Service shows that Producer Price Inflation (PPI) rose to 33.2 percent in August 2024, up from 29.1 percent in July 2024, marking a 4.1 percentage point increase. The month-on-month producer inflation rate for August stood at 2.7 percent.
The Producer Price Index (PPI) tracks the average change over time in the selling prices of goods and services as received by domestic producers. In the Industry sector (excluding construction), producer inflation jumped from 37.9 percent in July to 44.2 percent in August 2024. However, the construction sector saw a decrease in inflation, dropping to 27.7 percent in August. In the Extraction of Crude and Natural Gas sector, inflation dropped to 33.4. percent in August 2024, down by 10.6 percentage points from July’s rate of 44.0 percent.
Conversely, the Mining of Metal Ores saw a significant increase in inflation, rising to 71.7 percent in August from 54.2 percent in July. Mining support service activities recorded an inflation rate of 42.9 percent.
