Producer Price Inflation rate increases to 33.0% in October
Latest data from the Ghana Statistical Service (GSS) reveals that the Producer Price Inflation rate has increased to 33.0% in October up from 30.5% recorded in September 2024, representing a 2.5 percentage point increase.
The month-on-month producer price inflation rate between September and October was 3.0%. The Producer Price Index measures the average change over time in the selling prices of goods and services received by domestic producers.
According to the data, in the industrial sector, the PPI excluding the construction sector increased from 43.3% in September 2024 to 48.8% in October 2024.
The construction sector recorded a rise to 31.5% in October 2024. The mining and quarrying sector had the highest inflation rate at 54.3%, while the water supply, sewerage, and waste management sector saw the lowest rate of inflation, at 4.1%, which was still above the national average of 33.0%.
Citinewsroom
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