The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation for June of this year stood at 29.9.
The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for their goods and services.
Comparing the latest figures to the rate recorded in May 2023, which was 30.3 percent, there was a 1.1 percentage point decrease in the PPI.
Government Statistician, Prof. Kobina Annim, provided insights during a press briefing in Accra on July 19. He explained that the month-on-month change in the PPI between May and June 2023 was 0.6 percent.
Among the key sectors of the economy, the PPI for Construction decreased from 32.5 percent in May 2023 to 31.3 percent in June 2023. Additionally, the rate for the Services sector decreased from 18.1 percent in May to 17.6 percent in June 2023.
Notably, the Electricity and gas sector (70.6%), Transportation and storage (49.2%), Water supply, sewerage, and waste management (38.5%), Accommodation and food service activities (37.9%), and Mining and quarrying (31.0%) all recorded rates above the national average. Conversely, the Information and communication activity recorded the lowest rate of 11.1 percent in June 2023.