Producer Price Inflation rate surges to 33.0% in October 2024

Recent figures released by the Ghana Statistical Service (GSS) show that the Producer Price Inflation (PPI) rate in October of this year rose to 33.0 percent, up from 30.5 percent recorded in September 2024.

This represents a 2.5 percentage point increase in the PPI for the period. According to the GSS, the month-on-month PPI rate between September and October was 3.0 percent.

Additionally, in the industrial sector, the PPI excluding the construction sector increased from 43.3 percent in September 2024 to 48.8 percent in October 2024.

However, the construction sector recorded a surge to 31.5% in October 2024, while the mining and quarrying sector recorded the highest inflation rate at 54.3 percent.

Meanwhile, the water supply, sewerage, and waste management sector saw the lowest rate of inflation at 4.1 percent in October, which was still above the national average of 33.0 percent.

The Producer Price Index measures the average change over time in the selling prices of goods and services received by domestic producers.

MA

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