The year-on-year producer price inflation (PPI) increased to 21.4% in February from 16.8% in January 2022, the Ghana Statistical Service (GSS) has said.
This represents an increase of 4.6%. The month-on-month change in producer price index between January 2022 and February 2022 was 3.9%.
PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The Government Statistician, Professor Samuel Kobina Annim, who announced this in Accra on Wednesday (16 March), said the manufacturing sector drove the February PPI.
He said the manufacturing sub-sector, which constituted more than two-thirds of the total industry, recorded the highest year-on-year producer price inflation of 28.8%, constituting an increase of 4.0 percentage points.
In February 2022, two out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 28.8%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation of 44.3%, while the publishing, printing and reproduction of recorded media recorded the least inflation of 2.6%,” Prof. Annim, said.
He said the producer price inflation for the mining and quarrying sub-sector rose to 13.8% increased from 11.6% in January 2022, representing an increase rate of 2.2%.
“The mining and quarrying sub-sector recorded the highest monthly inflation rate of 8.4% followed by the manufacturing sub-sector which recorded a rate of 3.8%,” Prof. Annim said.
He said the Utility sub-sector recorded the lowest year-on-year producer inflation rate of 0.5%.
On the petroleum sector, the Government Statistician recorded an inflation rate of 44.3% from 35.0% in January this year.
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