The Producer Price Inflation rate for January 2021 hit 15.6%, the Ghana Statistical Service has revealed.
This rate represents a 0.9 percentage point increase in producer inflation relative to the rate recorded in December 2021 (14.7%).
It also correlates with the Consumer Price Inflation which also inched up to 13.9% in January 2022
According to the figures from the GSS, the month-on-month change in the producer price index between December 2021 and January 2022 was 4.0%.
In terms of sectors, the PPI in the Mining and Quarrying sub-sector increased by 2.1 percentage points over the December 2021 rate of 0.1 percent to record 2.2% in January 2022.
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The producer inflation for the manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 0.8 percentage points to record 22.9%.
The utility sub-sector however recorded a 0.3% inflation rate for January 2022.
In January 2022, two out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 22.9%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 35.0%, while the Manufacture of motor vehicles, trailers and semitrailers recorded the least inflation rate of -2.9%.
Trends
In January 2021, the producer price inflation rate for all industries was 8.7%.
The rate increased to a record 13.0% in March 2020 but declined to 10.9% in April 2021.
In May 2021, the rate increased to 11.8% but decreased continuously to record 8.1% in August 2021. Subsequently, the rate increased continuously record of 15.6% in January 2022.
Source: Daily Analyst
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