Producer Price Inflation rate increases to 33.0% in October

The Ghana Statistical Service (GSS) has reported a rise in the Producer Price Inflation (PPI) rate, which reached 33.0% in October 2024, up from 30.5% in September 2024. This marks an increase of 2.5 percentage points.

On a monthly basis, producer prices experienced a 3.0% inflation rate between September and October. The PPI measures the average change in prices domestic producers receive for their goods and services over time.

In the industrial sector, excluding construction, inflation surged from 43.3% in September to 48.8% in October 2024. Similarly, the construction sector saw its inflation rate climb to 31.5% during the same period.

Among the various sectors, mining and quarrying recorded the highest inflation at 54.3%. On the other hand, the water supply, sewerage, and waste management sector reported the lowest inflation rate at 4.1%, which was significantly below the national average of 33.0%. Despite this, the sector’s rate reflected a continued increase.