The latest data from the Ghana Statistical Service (GSS) reveals that the Producer Price Inflation (PPI) rate for June 2024 has climbed to 25.9%, up from 23.6% in May 2024.
This marks a year-on-year increase of 25.9% between June 2023 and June 2024.
The increase in the PPI represents a 2.5 percentage point rise compared to the rate recorded in May 2024. Additionally, the month-on-month change between May 2024 and June 2024 was 2.7%.
The Producer Price Index measures the average change over time in the selling prices of goods and services received by domestic producers.
According to the data, producer price inflation in the industry sector, excluding the construction sector, increased to 29.4% in June 2024, up from 28.5% in May 2024.
In the construction sector, the inflation rate also rose to 29.4% in June 2024. The services sector saw an increase from 11.4% in May 2024 to 12.2% in June 2024.
While sectors such as mining and quarrying, construction, accommodation, and food services recorded inflation rates above the national average, the water supply, sewerage, and waste management activities had the lowest rate at 2.6% in June 2024.
Source: Myjoyonline