The latest data from the Ghana Statistical Service (GSS) indicates that the Producer Price Inflation (PPI) rate rose to 33.0% in October 2024, up from 30.5% in September 2024, reflecting a 2.5 percentage point increase.
On a month-to-month basis, the producer price inflation rate between September and October was 3.0%.
The PPI tracks the average change over time in the prices domestic producers receive for their goods and services.
In the industrial sector, the PPI—excluding the construction sector—increased from 43.3% in September to 48.8% in October 2024.
The construction sector also recorded an increase, with inflation rising to 31.5% in October.
The mining and quarrying sector had the highest inflation rate at 54.3%, while the water supply, sewerage, and waste management sector reported the lowest rate at 4.1%. Despite being the lowest, this rate was still below the national average of 33.0%.
Source: Adomonline