The Producer Price Inflation (PPI) rate for April 2022 hit 31.2%, from 29.3% recorded in March 2022.
According to the Ghana Statistical Service, the month-on-month change in the producer price index between March 2022 and April 2022 was 1.1%.
This has a correlation with the Consumer Price Inflation which has been surging since the beginning of the year.
Whilst the PPI in the Mining and Quarrying sub-sector increased by 1.6 percentage points over the March 2022 rate of 33.6% to 35.2% in April 2022, the producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.6 percentage points to 38.6%.
The utility sub-sector however recorded a 1.1% inflation rate for April 2022.
In April 2022, two out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 38.6 percent.
Manufacture of coke, refined petroleum products, and nuclear fuel recorded the highest inflation rate of 76.1%, while the publishing, printing, and reproduction of recorded media recorded the least inflation rate of 2.6%.
The Petroleum Price Index also went up to 76.1% in April 2022, signaling the rising fuel prices at the pumps.
For month-on-month, the manufacturing sub-sector recorded the highest monthly inflation rate of 1.6%, followed by the mining and quarrying sub-sector which recorded a rate of 0.4%. The utility sub-sector recorded no inflation in the month of April 2022.
Ghana | Atinkaonline.com