Industrial PPI Rate stands at 54.5 percent

Government Statistician, Prof. Samuel Kobina Annim has announced that the September 2022 Industrial Producer Price Inflation (PPI) stands at 54.5 percent.

The I-PPI for Ghana reports the producer price indices with reference to March 2020to February 2021, the index reference period.

The release also shows the annual (year-on-year) and monthly industrial producer inflation rates for all industry and four major sub-sectors (Mining and Quarrying, Manufacturing, Electricity and Gas, Water Supply, Sewerage and Waste Management..

This rate represents a 5.6percentage points increase in Industrial producer inflation relative to the rate recorded in August 2022 which was 48.0 percent.

According to Prof. Annim, the month-on-month change in the I-PPI between August and September 2022 also stands at 5.9 percent.

He further explained that the Industrial producer price inflation in the Mining and Quarrying sub-sector was increased by 2.4 percentage points over the August 2022 rate of 55.1 percent to 57.5 in September 2022.

“the producer inflation for the Manufacturing sub-sector increased by 7.8 percentage points to 58.2 percent in September 2022. Electricity and gas recorded a 24.0 percent inflation rate for September 2022 indicating an increase of 8.6 percent over August rate of (7.8%). Water supply, Sewerage and Waste Management sub-sector recorded inflation of 13.6 percent”, he said.

On the Mining and Quarrying Sub-Sector, the Government Statistician said in September 2022, Extraction of Crude Oil and natural gas recorded the highest inflation of 79.2 percent indicating a decline of 9.7 percentage points over August 2022 rate of 88.9 percent, adding that, the Mining support service activities also recorded the least inflation rate of 23.9 percent.

Also, in the Manufacturing Sub-Sector, he added that, three out of the twenty-threemajor groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 58.2 percent while the Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 148.3 percent followed by Manufacture of computer, electronic and optical products with 69 percent.

Water Supply, Sewerage and Waste Management Sub-Sector

He noted that, Water collection, treatment and supply industries recorded the highest inflation of 19.7 percent in September 2022 while waste collection, treatment and disposal activities; material recovery recorded 6.8 percent.

Source Eric Nii Sackey