According to the GSS, this rate indicates that between January 2021 and January 2022 (year-on-year), the PPI increased by 15.6 percent.
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Producer Price Inflation for January 2022 hits 15.6% - GSS
The Ghana Statistical Service (GSS) has announced Producer Price Inflation rate for January 2022 was 15.6 percent.
Producer Price Inflation for January is 15.6% - GSS reveals
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This January 2022 rate represents a 0.9 percentage point increase in producer inflation relative to the rate recorded in December 2021 (14.7%).
The month-on-month change in producer price index between December 2021 and January 2022 was 4.0 percent.
The producer price inflation in the Mining and Quarrying sub-sector increased by 2.1 percentage points over the December 2021 rate of 0.1 percent to record 2.2 percent in January 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 0.8 percentage points to record 22.9 percent.
The utility sub-sector recorded 0.3 percent inflation rate for January 2022.
Trends
In January 2021, the producer price inflation rate for all industry was 8.7 percent. The rate increased to record 13.0 percent in March 2020, but declined to 10.9 percent in April 2021.
In May 2021, the rate increased to 11.8 percent but decreased continuously to record 8.1 percent in August 2021. Subsequently, the rate increased continuously record 15.6 percent in January 2022.
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Manufacturing Sector
In January 2022, two out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 22.9 percent. Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 35.0 percent, while the Manufacture of motor vehicles, trailers and semitrailers recorded the least inflation rate of -2.9 percent
Petroleum Price Index
The producer inflation rate in the petroleum subsector was 4.4 percent in January 2021. The rate increased continuously to pick at 31.0 percent in March 2021 but declined to 23.9 percent in June 2021. The rate increased continuously to record 58.4 percent in November 2021. Subsequently, it dropped continuously to 35.0 percent in January 2022
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