Producer Price Inflation rate for April at 31.2 per cent year-on-year

The Producer Price Inflation(PPI) rate for April 2022 is  31.2 percent, the Ghana Statistical Service said on Wednesday.

The rate represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in March, 2022 of 29.3 per cent.

Professor Samuel Kobina Annim, the Government Statistician, said the month-on-month change in the producer price index between March 2022 and April 2022 was 1.1 percent. 

The manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 38.6 per cent, followed by the mining and quarrying sub-sector with 35.2 per cent. 

The utility sub-sector recorded the lowest year-on-year producer inflation rate of 1.1 per cent.

The manufacturing sub-sector recorded the highest monthly inflation rate of 1.6 percent, followed by the mining and quarrying sub-sector with 0.4 percent. 

The utility sub-sector recorded no inflation in the month of April. 

The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.

The PPI for Ghana reports the producer price indices with reference to September 2006, the base period. 

The release shows the annual and monthly producer inflation rates for all industry and three major sub-sectors of industry for the last twelve months. 

Source: Newsghana