According to recent information from the Ghana Statistical Service (GSS), the Producer Price Inflation (PPI) for the month of May 2023 decreased from the 34.3% observed in April to 30.3%.
According to data from the GSS, producer price inflation in the non-construction sector of industry fell from 37.1 percent in April 2023 to 32.5 percent in May 2023.Construction’s rate dropped from 20.8 percent in April 2023 to 20.0 percent in May 2023.
The rate of industrial producer price inflation in the Mining and Quarrying sub-sector fell from 45.1 percent in April 2023 to 36.5 percent in May 2023, a fall of 8.6 percentage points. In May 2023, the Manufacturing subsector’s percentage dropped by 0.8 points to 25.5 percent.
Gas and electricity saw a 51.8 percent inflation rate for May 2023, a decrease of 0.2 percentage points over the April rate of (52.0%). The sub-sector of water supply, sewage, and waste management saw inflation of 31.7%.
In May 2023, the industry sector, excluding construction, saw producer inflation of 32.5 percent on an annual basis; the monthly change rate was -3.0 percent. The highest producer price inflation rate from one year to the next was 51.8 percent in the electricity and gas sub-sector, followed by 36.5 percent in the mining and quarrying sub-sector.