Prof. Samuel Kobina Annim
The year-on-year inflation rate at factory prices for goods and services for the month of July is 32.7 per cent showing an increase from the 29.2 per cent registered in June 2023.
The July monthly producer inflation is also 0.8 per cent as opposed to the 0.6 per cent recorded in June 2023.
This information was revealed by the Government Statistician at the Ghana Statistical Service (GSS), Prof. Samuel Kobina Annim.
The Government Statistician stated that the industry sector recorded a rate of 35.7 per cent in comparison to 31.3 per cent recorded in June 2023.
He added that electricity and gas had the highest rate under the sector with 69.6 per cent. Mining and quarry recorded a rate of 38.9 per cent while water supply, sewage, and waste management were noted to have an increase of 38.5 per cent. The manufacturing sub-sector also recorded a rate of 28.0 per cent.
Prof. Annim also shared that the construction sector experienced a rate of 18.5 per cent which is less than the 19.3 recorded in June 2023. The construction of buildings had the highest inflation in the sub-sector with 24.5 per cent, followed by civil engineering with 16.4 per cent, and specialised construction activities with 6.2 per cent.
He added, “The services sector experienced a rate of 17.0 per cent this month as compared to the 17.6 recorded the previous month. Air transport recorded a rate of 85.8 per cent while accommodation and food recorded a rate of 35.0 per cent.”
Prof. Annim also indicated that transport and storage recorded a rate of 46.0 per cent while Information and Communication was at 11.1 per cent in the services sector.
By Abigail Atinuke Seyram Adeyemi