Producer Price Inflation shoots up by 19.3% to 65.2% in October 2022
The Producer Price Inflation (PPI) rate for October 2022 inched up to 65.2%, a 19.3 percentage points increase relative to the rate recorded in September 2022 (45.9%).
According to the Ghana Statistical Service, the month-on-month change in the PPI between September and October 2022 was 15.4%.
- Advertisement -
Excluding the construction sector, the PPI increased to 75.6% in October 2022, from 54.5% in September 2022.
The rate in the construction sector declined from 25.1% in September 2022 to 23.0% in October 2022.
In the Services sector, the rate increased from 5.6% in September 2022 to 10.0% in October 2022.
Mining and quarrying (86.4%), manufacturing (73.1%), transport and storage (71.4%) recorded the highest rates, while Information and Communication activity recorded the lowest rate of 1.4% in October 2022.
Services Producer Price Index
The Service Producer Price Inflation in the Transport and Storage sub-sector increased by 44.1 percentage points over September 2022 rate of 27.3% to 71.4% in October 2022. The Accommodation and food sub-sector rate increased by 17.2% percentage points to 42.1% in October 2022.
The Information and Communication sub-sector recorded a 1.4%
- Advertisement -
inflation rate for October 2022 as compared to 0.9% in September 2022.
Industrial Producer Price Index
The Industrial Producer Price Inflation in the Mining and Quarrying sub-sector increased by 29.0 percentage points over the September 2022 rate of 57.5% to 86.4% in October 2022.
The Manufacturing sub-sector increased by 14.9 percentage points to 73.1% in October 2022.
Electricity and gas recorded a 33.7 percent inflation rate for October 2022, an increase of 10.0% over the August rate of (23.7%).
The water supply, Sewerage, and Waste Management sub-sector recorded an inflation rate of 15.7%.
Send your news stories to
Post Disclaimer
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Ghana News Avenue corporation and thereby have no association to the company
- Advertisement -
Comments are closed.