THE PRODUCER Price Inflation (PPI) for the month of October has risen to 65.2 per cent according to the latest data released by the Ghana Statistical Service (GSS).
The year-on-year inflation, October 2021 and October 2022, increased by 19.3 percentage points relative to the rate recorded in September 2022 which was 45.9 per cent.
The month-on-month change in the PPI between September and October 2022 was 15.4 per cent.
The monthly press release by the GSS, said mining and quarrying, manufacturing, transport and storage recorded the highest rates as Information and Communication activity recorded the lowest rate.
“Mining and quarrying (86.4%), manufacturing (73.1%), transport and storage (71.4%) while information and communication activity recorded 1.5% in October 2022,” it noted.
Also, accommodation and food service activities recorded PPI of 42.1 per cent, electricity and gas, 33.7 per cent, construction 23.0 per cent and water supply, sewerage, waste management 15.7 per cent.
The statement explained that the PPI, in the industry, less construction sector, increased to 75.6 per cent in October 2022 from 54.5 per cent in September 2022.
“The rate in the construction sector declined from 25.1 per cent in September 2022 to 23.0 per cent in October 2022.
In the service sector, the rate increased from 5.6 per cent in September 2022 to 10.0 per cent in October 2022,” it said.
BY Jamila Akweley Okertchiri