Ghana’s Producer Price Inflation (PPI) rate has surged to 33.0 percent in October 2024, up from 30.5 percent recorded in September.
The 2.5 percentage point increase marks a notable shift in the country’s inflationary trends, according to the latest figures from the Ghana Statistical Service (GSS).
The month-on-month PPI between September and October rose by 3.0 percent.
In the industrial sector, the PPI excluding the construction industry saw a sharp rise, climbing from 43.3 percent in September to 48.8 percent in October.
The mining and quarrying sector, however, recorded the highest inflation rate of 54.3 percent, reflecting the significant price pressures in that area.
The construction sector experienced its own notable surge, with inflation reaching 31.5 percent in October 2024. Despite the increase, it remained lower than other industrial sectors.
On the other hand, the water supply, sewerage, and waste management sector experienced the lowest inflation rate at 4.1 percent.
While lower than other sectors, this figure still exceeded the national average of 33.0 percent.
The Producer Price Index, which tracks the average change over time in the selling prices of goods and services received by domestic producers, highlights the rising cost pressures faced by producers across various sectors in the country.