Producer Price Inflation rises to 33% in October 2024

Ghana’s Producer Price Inflation (PPI) rate rose to 33.0% in October 2024, up 2.5 percentage points from 30.5% in September. The month-on-month change was 3.0%, according to the Ghana Statistical Service.

The Industry sector, excluding construction, saw an increase from 43.3% to 48.8%, while the Construction sector recorded a rate of 31.5%. The Services sector remained stable at 12.4%.

Mining and Quarrying led inflation rates with 54.3%, significantly above the national average, while Water Supply, Sewerage, and Waste Management had the lowest at 4.1%.

In Manufacturing, the highest inflation was in motor vehicles, trailers, and semi-trailers (87.7%), followed by basic metals (50.8%). The Water Supply sub-sector saw a slight rise in waste management inflation from 7.0% to 7.2%.

In Services, Transport and Storage inflation edged up to 32.5%, while Accommodation and Food Services declined to 29.6%. Information and Communication recorded 8.0%.