PPI for February is 10.3%

The Producer Price Inflation (PPI) rate for February 2021 was 10.3 percent the Ghana Statistical Service has disclosed.

This rate indicates that between February 2020 and February 2021 (year-on-year), the PPI increased by 10.3 percent.

This rate represents a 1.6 percentage point increase in producer inflation relative to the rate recorded in January 2021 (8.7%).

The month-on-month change in producer price index between January 2021 and February 2021 was -0.1 percent.

The producer price inflation in the Mining and Quarrying sub-sector decreased by 3.2 percentage points over the January 2021 rate of 27.4 percent to record 24.2 percent in February 2021.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.9 percentage points to record 9.8 percent.

The utility sub-sector recorded no change in the inflation rate in January 2021.

In February 2021, seven out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 9.8 percent.

Manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation rate of 40.6 percent, while the Manufacture of machinery and equipment n.e.c. recorded the least inflation rate of 0.0 percent.