Inflation Falls To 25.1%

Prof. Samuel Kobina Annim


The Producer Price Inflation for the month of September 2023 fell by 3.1% to 25.1% according to latest figures from the Ghana Statistical Service (GSS).

The Government Statistician, Prof. Samuel Kobina Annim, said the month-on-month change in the PPI between August 2023 and September 2023 was 2.7%.

He said the producer price inflation in industry less construction sector also decreased to 26.6% in September 2023 from 30.4% in August 2023.

The rate in the construction sector also decreased to 23.1% in September 2023 from 24.6% in August 2023 while in the manufacturing sector, the PPI was estimated at 16.0%, he added.

In the Services sector, the rate increased from 15.5% in August 2023 to 16.1% in September 2023.

10 sub-sectors recorded inflation higher than the national average of 16.1%.

They included Information service activities (247.1%), Air transport (64.0%) and Postal and courier activities (47.3%).

The Electricity and gas (50.9%), Mining and quarrying (33.5%), Transportation and storage (28.8%), and Water supply, sewerage, and waste management (27.6%) recorded rates above the national average.

Also, 13 sub-sectors led by the Manufacture of textiles (68.9%), Manufacture of pharmaceuticals, medicinal chemical, and botanical products (66.1%), and Manufacture of other non-metallic mineral products (50.1%) recorded inflation rate higher than the manufacturing average.

However, Information and communication activity recorded the lowest rate of 13.3% in September 2023.

By Jamila Akweley Okertchiri