The Ghana Statistical Service (GSS) has reported that the Producer Price Inflation (PPI) rate for June 2024 surged to 25.9%, marking an increase from 23.6% recorded in May 2024.
This represents a year-on-year rise of 25.9% from June 2023 to June 2024.
Compared to May 2024, the PPI saw a 2.5 percentage point uptick, with a month-on-month change of 2.7% between May and June 2024.
The Producer Price Index tracks the average fluctuation in the selling prices of goods and services received by domestic producers over time.
The industry sector, excluding construction, experienced a rise in producer price inflation to 29.4% in June 2024, up from 28.5% in May 2024.
In the construction sector, inflation also climbed to 29.4% in June 2024.
Meanwhile, the services sector saw an increase from 11.4% in May 2024 to 12.2% in June 2024.
Sectors such as mining, quarrying, construction, accommodation, and food services recorded inflation rates above the national average.
Conversely, water supply, sewerage, and waste management activities had the lowest inflation rate at 2.6% in June 2024.