Producer Price Inflation rate was 31.2 % in April

The Producer Price Inflation (PPI) rate for April 2022 was 31.2 percent, the Ghana Statistical Service (GSS) has announced on Wednesday May 18.

This rate indicates that between April 2021 and April 2022 (year-on-year), the PPI increased by 31.2 percent.

The rate, the GSS said, represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in March 2022 (29.3%).

The month-on-month change in the producer price index between March 2022 and April 2022 was 1.1 percent.

The producer price inflation 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 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.

Source: 3news.com|Ghana