Producer Price Inflation drops to 9.6% in October 2023

Recent figures released by the Ghana Statistical Service (GSS) showed the Producer Price Inflation for the month of October this year decline to 9.5 percent.

The development represents a 15.5 percentage point drop to the PPI relative to the figure recorded in September this year (25.1%) while the month-on-month change in PPI between October and September 2023 was pegged at 1.1 percent.

The GSS further said the PPI industry led by the construction sector witnessed a decline to 9.0% in October 2023 from an earlier 26.4% recorded in September 2023.

For the construction sector, the rate dropped to 44.0% in October 2023 from 48.9% in September 2023 while the rate for the Services sector saw a decline from 16.1% in September 2023 to 11.7% in October 2023.

In all, Construction (44.0%), Electricity and Gas (39.6%), Water Supply, Sewerage, and Waste Management (25.8%), Information and Communication (12.7%), Accommodation and Food services (11.1%), and Mining and Quarrying (10.4%), recorded rates above the national average, while Manufacturing activity recorded the lowest rate of 3.2% in October 2023.

See the full figures released by the GSS below:

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