Producer Price Inflation for April reaches 31.2% - GSS

Producer Price Inflation PPI1212.png Manufacturing sub-sector recorded the highest year-on year PPI for April 2022

Wed, 18 May 2022 Source: www.ghanaweb.com

Inflation rate for April hits 23.6%

Manufacturing sub-sector records highest year-on-year PPI for April

Utility sub-sector recorded a 1.1% inflation rate for April 2022 – GSS

The Ghana Statistical Service has annouced that the Producer Price Inflation recorded for April this year reached 31.2 percent.

The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.

According to the GSS, the latest figures for the period represents a 1.9 percentage point increase as compared to 29.3 percent recorded in March this year.

On the monthly basis, the producer price index between March 2022 and April 2022 was 1.1 percent.

Presenting the findings at a press briefing in Accra on May 18, Government Statistician, Prof. Samuel Kobina Annim said key sectors that contributed to the recent hike were the manufacturing sub-sector which recorded the highest year-on-year PPI rate of 38.6 percent.

This was followed by the mining and quarrying sub-sector which recorded 35.2 percent for the period while the utility sub-sector recorded the lowest year-on-year PPI rate of 1.1 percent.

On the monthly basis, the manufacturing sub-sector recorded the highest rate of 1.6 percent, followed by the mining and quarrying sub-sector which recorded a rate of 0.4 percent.

The utility sub-sector however recorded no inflation in the month of April 2022.

Source: www.ghanaweb.com
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