Producer Price Inflation falls to 50.8% in February 2023

The Producer Price Inflation, which measures the average change over time in the prices received by domestic producers to produce their goods and services, fell to 50.8% in February 2023, from 52.6% in January 2023.

This is in line with the Consumer Price Inflation which also took a nose dive in February 2023 to 52.8%

The month-on-month change in the PPI between January 2023 and February 2023 was 7.0%.

According to figures from the Ghana Statistical Service, the producer price inflation in the Industry less (minus) Construction sector decreased to 57.9% in February 2023, from 58.8% in January 2023.

Also, the rate in the construction sector increased to 21.1% in February 2023 from 20.4% in January 2023.

In the Services sector, the rate increased from 10.6% in January 2023 to 13.4% in February 2023.

The Transportation and Storage (67.6%), Accommodation and Food Service Activities (66.5%), Mining and Quarrying (61.2%), Electricity and Gas (57.4%), and Manufacturing (55.7%) recorded rates above the national average.

However, Information and Communication Activity recorded the lowest rate of 4.5% in February 2023.

Source: Ghana News