The Ghana Statistical Service (GSS) has announced an increase in the Producer Price Inflation (PPI) rate for October 2024, which rose to 33.0%, up from the 30.5% recorded in September 2024. This reflects a 2.5 percentage point rise within a month. Additionally, the month-on-month producer price inflation rate, measuring changes between September and October, stood at 3.0%. The PPI serves as a key indicator, measuring the average change in prices domestic producers receive for their goods and services over time.

Breaking down the figures by sectors, the industrial sector, excluding construction, experienced a notable surge, with its PPI rising from 43.3% in September to 48.8% in October. The construction sector also recorded an increase in inflation, reaching 31.5% in October. Among the various industries, the mining and quarrying sector emerged with the highest inflation rate, at a staggering 54.3%, underscoring significant price pressures in that area.

Conversely, the water supply, sewerage, and waste management sector recorded the lowest inflation rate at 4.1%. While this figure is far below the rates observed in other sectors, it remains above the national average of 33.0%. These statistics highlight varying levels of inflationary pressures across different sectors of the economy, reflecting the diverse cost challenges facing producers.

Source: TheDotNews