The producer price inflation rate for September 2022 was 46.0%. This rate indicates that between August 2021 and August 2022 (year-on- year), the PPI increased by 46.0%.
This rate represents a 4.8 percentage points increase in producer inflation relative to the rate recorded in July 2022 (41.2%).
The month-on-month change in the producer price index between July 2022 and August 2022 was 4.0%.
The producer price inflation in the mining and quarrying sub-sector increased by 11.8 percentage points over the July 2022 rate of 23.9% to 35.7% in August 2022.
The producer inflation for the manufacturing sub- sector, which constitutes more than two-thirds of the total industry, increased by 4.4 percentage points to 61.7% in August 2022. The utility sub-sector recorded a 1.7% inflation rate for August 2022.
Trends
In August 2021, the producer price inflation rate for all industry was 8.1% and had increased continuously and consistently over the last 12 months to 46.0 % in August 2022.
In August 2022, one out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 61.7%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 170.3%, with the manufacture of machinery and equipment recording the least inflation rate of 3.7%.
The producer inflation rate in the petroleum sub- sector was 25.3% in August 2021. After that, it increased continuously to 58.4% in November 2021 but dropped to 36.0% in January 2022.
Between February and August 2022, the rate increased consistently from 44.3% to 170.3%. Highlights The year-on-year producer inflation for all industry was 46.0 percent in August 2022; the monthly change rate was 4.0%.
The manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 61.7 percent, followed by the mining and quarrying sub-sector with 35.7%.
The utility sub-sector recorded the lowest year-on-year producer inflation rate of 1.7%. The mining and quarrying sub-sector recorded the highest monthly inflation rate of 9.1%, followed by the manufacturing sub-sector with 3.7%. The utility sub-sector recorded the least inflation of 0.4% in August 2022.
Asaase Radio 99.5 – tune in or log on to broadcasts online
99.5 in Accra, 101.5 in Bawku, 99.9 in Bimbilla, 100.3 in Cape Coast, 90.7 in Ho, 98.5 in Kumasi, 99.7 in Tamale,, U 89.5 in Tarkwa and 106.9 in Walewale
Join the conversation. Call: 020 000 9951 or 059 415 7777. Or WhatsApp: 020 000 0995.
#AsaaseRadio
#TheVoiceofOurLand
