Mining and Quarrying sub-sector PPI increased by 1.6 percentage points

The Producer Price Inflation (PPI) in the Mining and Quarrying sub-sector increased by 1.6 percentage points over the March 2022 rate of 33.6 percent to 35.2 percent in April 2022.

The Ghana Statistical Service (GSS) announced on Wednesday May 18 that the producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.6 percentage points to 38.6 percent.

The utility sub-sector recorded a 1.1 percent inflation rate for April 2022.

In April 2022, two out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 38.6 percent.

Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 76.1 percent, while the Publishing, printing and reproduction of recorded media recorded the least inflation rate of 2.6 percent.

In April 2021, the producer inflation rate in the petroleum sub-sector was 28.0 percent. The rate then fluctuates between May and August 2021.

Thereafter, it increased continuously to 58.4 percent in November 2021 but dropped to 36.0 percent in January 2022. The rate resumed an upward trend to record 76.1 percent in April 2022.

Source: 3news.com|Ghana