Producer Price Inflation hits 17.4% in January 2024

The country's Producer Price Inflation (PPI) for January this year has hit 17.4%, Ghana Statistical Service has announced in its latest report.

This is a 0.8 percentage point increase in the producer inflation relative to the rate recorded in December 2023 [16.6%].

"The PPI rate for January 2024 was 17.4 percent. This rate indicates that between January 2023 and January 2024 (year-on-year)," it indicated.

In the release copied to GhanaWeb Business, it noted that the year-on-year and monthly producer inflation rate covers all sectors; mining and quarrying, manufacturing, electricity and gas, water supply, sewerage and waste management, construction, transport and storage good and accommodation, information and communication.

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

Also, the Producer Price Inflation in the construction sector decreased to 40.2 percent in January 2024 from 46.0 percent in December 2023.

In the services sector, the rate decreased from 17.6 percent in December 2023 to 16.9 percent in January 2024.

SA/NOQ