According to the most recent data from the Ghana Statistical Service, domestic producers paid an average of 38 percent more for inputs in June than they did in May, indicating that producer price inflation is still rising.
According to this rate, the PPI climbed by 38% from June 2021 to June 2022 (year over year).
In comparison to the 33.3 percent recorded in May, this shows a 4.7 percent increase in producer inflation.
Producer price inflation in the Mining and Quarrying sub-sector increased from 23.9 percent in May 2022 to 25.5 percent in June 2022, an increase of 1.6 percentage points.
The Manufacturing sub-sector, which accounts for more than two thirds of the entire industry, had an increase in producer inflation of 7.2 percentage points to 51.8 percent.
For the month of June 2022, the utility subsector’s inflation rate was 1.2 percent.
One of the sixteen largest groupings in the manufacturing sub-sector had inflation in June 2022 that was higher than the 51.8 percent average for the industry.
The highest inflation rate, at 135.9 percent, was recorded in the manufacture of coke, refined petroleum products, and nuclear fuel, while the lowest inflation rate, at 0.0 percent, was recorded in the manufacture of machinery and equipment n.e.c.
In June 2021, the petroleum subsector’s producer inflation rate was 23.9 percent. In July 2021, the rate jumped to 25.2%.
Following that, it continued to rise, reaching 58.4% in November 2021, before falling to 36.0 percent in January 2022. The rate grew to 44.3 percent in February 2022 and shot up to 135.9 percent in June 2022.
