Producer price inflation hits 45.5%

Producer Price Inflation, the average price of goods and services received by domestic producers for their production activities, for the month of September has risen to 45.5 percent.

This rate represents a 5.9 percentage point increase in producer inflation relative to the figure recorded in August 2022.

This increment was mainly influenced by the mining and quarrying and manufacturing sectors, which recorded the highest rates of 57.5% and 58.2% respectively.

The Government Statistician, Prof. Samuel Annim gave more highlights at a press conference in Accra today.

“Year-on-year producer inflation for all goods and services from the producer’s perspective between the month of September 2021 and September 2022 have gone up by 45.5%. On a month-on-month basis with the respective indices, provisional August 2022 and September 2022 was 5.2%.”

“From the producer’s perspective between August 2022 and September 2022, generally prices of goods and services went up by 5.2%”

Meanwhile, the Government Statistician says his outfit will expand the basket to include the agriculture sector.

Source: Citinewsroom