Prof. Samuel Kobina Annim
The year-on-year Producer Price Inflation (PPI) for all goods and services was 43.9 per cent in April 2023, representing a monthly rate of 2.8 per cent.
Government Statistician, Prof. Samuel Kobina Annim at a press briefing said the industry sector recorded a rate of 43.9 per cent, with the construction sector having a rate of 20.9 and the service sector, a rate of 18.4 per cent.
He said the current PPI rate came as a result of inflation that occurred in the various sub-sectors within the industry, construction, and service sectors in the economy.
“The Producer Price Index (PPI) rate can be attributed to the mining industry which has a rate of 45.1 per cent, transportation and storage at 58.9 per cent, manufacturing 41.4 per cent, accommodation and food service activities at 51.1 per cent, electricity and gas at 59.0 per cent, construction at 20.9 per cent, water supply 20.6 per cent and Information and Communication at 11.8 per cent,” he shared.
He also explained that the highest monthly producer inflation was mining which recorded a rate of 7.3 per cent followed by the construction sector at 4.8 per cent.
“Electricity and gas recorded an inflation of 1.1 per cent and The Information and Communication also recorded an inflation of -0.8 per cent. The rate for transportation and storage was at -0.5 whiles accommodation and food services was at -0.9 per cent,” he stated.
The manufacturing industry also recorded a rate of -1.4 per cent.
By Abigail Atinuke Seyram Adeyemi