The Ghana Statistical Service (GSS) has revealed that Producer Price Inflation (PPI) has reduced to 50.8% in February 2023, from 52.6% in January 2023.
The Producer Price Inflation measures the average change over time in the prices received by domestic producers to produce their goods and services.
The month-on-month change in the PPI between January 2023 and February 2023 was 7.0%.
According to figures from the Ghana Statistical Service, the producer price inflation in the Industry less (minus) Construction sector decreased to 57.9% in February 2023, from 58.8% in January 2023.
Also, the rate in the construction sector increased to 21.1% in February 2023 from 20.4% in January 2023.
In the Services sector, the rate increased from 10.6% in January 2023 to 13.4% in February 2023.
The Transportation and Storage (67.6%), Accommodation and Food Service Activities (66.5%), Mining and Quarrying (61.2%), Electricity and Gas (57.4%), and Manufacturing (55.7%) recorded rates above the national average.
Information and Communication Activity also recorded the lowest rate of 4.5% in February 2023.
Meanwhile, the Consumer Price Inflation has also taken a nosedive with a February 2023 rate of 52.8%.
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