July 19, 2024
P.O.Box 613ER Gombilla House, Lamashegu Market, Tamale, Northern Region

Producer Price For June 2023 Falls Marginally To 29.2%

Recent data from the Ghana Statistical Service show that the Producer Price Inflation (PPI) for the month of June 2023 fell marginally to 29.2% from the 30.3% recorded in May 2023.

This represents a 1.1 percentage point decrease in producer inflation relative to the rate recorded in May 2023

However, the month-on-month change in the PPI between May 2023 and June 2023 was 0.6 per cent.

Producer price inflation is the average price of goods and services received by domestic producers for their production activities.

According to data from the GSS, the Mining and quarrying, electricity and gas, transportation and storage and accommodation and food and services recorded the rates above the national average while the Information and communication activity recorded the lowest rate of 11.1 percent in June 2023.

In the services sector, the rate decreased from 18.1 percent in May 2023 to 17.6 percent in June 2023

The construction sector also recorded a decrease from 20.0 percent in May 2023 to 19.3 percent.

Source: Citinewsroom

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