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Producer price inflation rate for December 2022 declines to 52.2%

Manufacturing plant: garments

The producer price inflation (PPI) rate for December 2022 has declined to 52.2%, representing a 25.9 percentage points decrease in producer inflation relative to the rate recorded in November 2022 (78.1%).

The month-on-month change in the PPI between November and December 2022 was -13.3%

The producer price inflation in the Industry less construction sector decreased to 65.7% in December 2022 from 94.3% in November 2022.

The rate in the construction sector decreased to 22.1% in December 2022 from 26.6 percent in November 2022.

In the services sector, the rate decreased from 12.6% in November 2022 to 10.0% in December 2022.

The mining and quarrying (73.4%), manufacturing (64.2%), transport and storage (63.6%) recorded rates above the national average, while Information and communication activity recorded the lowest rate of 2.7% in December 2022.

Anthony Krakah, head of the industrial statistics division, Ghana Statistical Service (GSS) said the steep decline in month-on-month producer inflation could bode well for next month’s headline inflation figure.

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