Producer Price Inflation for July 2023 hits 32.7%

The producer price inflation for July 2023 hit 32.7%, the Ghana Statistical Service has revealed.

This means that the year-on-year inflation rate at factory prices for all goods and services was 32.7 % in July 2023.

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

This rate indicates that between July 2022 and July 2023 (year-on-year), the PPI increased by 32.7 percent, representing a 3.5 percentage point increase in producer inflation relative to the rate recorded in June 2023 (29.2%).

The producer price inflation in the industry-less construction sector increased to 35.7 percent in July 2023 from 31.3 percent in June 2023.

The rate in the construction sector decreased to 18.5 percent in July 2023 from 19.3 percent in June 2023.

In the Services sector, the rate decreased from 17.6 percent in June 2023 to 17.0 percent in July 2023.

The Electricity and gas (69.6%), Transportation and storage (46.0%), Water supply, sewerage, and waste management (38.5%), Mining and quarrying (38.9%) Accommodation and food service activities (35.0%) recorded rates above the national average, while Information and communication activity recorded the lowest rate of 11.1 percent in July 2023.

SSD/DAG

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