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Producer Price Inflation rate for April inflation 31.2% - GSS

May 18th 2022, 1:14:46 pm

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

inflation

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

The rate 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.

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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.

Trends

In April 2021, the producer price inflation rate for all industry was 10.9 percent. The rate increased to a record 11.8 percent but decreased continuously to record 8.1 percent in August 2021. Subsequently, it resumes an upward trend to record 31.2 percent in April 2022.

Manufacturing Sector

In April 2022, two out of the 16 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 (Fig. 2).

Petroleum Price Index

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

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Evans Effah

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