Producer Price Inflation for May 2023 drops to 30.3%

The Producer Price Inflation (PPI) for the month of May, 2023 fell to 30.3%, from the 34.3% that was recorded in April.

According to the Ghana Statistical Service (GSS), this figure represents a 4.0 percentage point decrease in producer inflation relative to the rate recorded in April 2023 (34.3%).

The GSS data showed that the month-on-month change in the PPI between April 2023 and May 2023 was -2.7 percent.

Per the data from the GSS, the producer price inflation in the industry-less construction sector decreased to 32.5 percent in May 2023 from 37.1 percent in April 2023.

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The PPI in the industry-less construction sector decreased to 32.5% in May 2023, from 37.1% in April 2023.

The rate in the construction sector also decreased to 20.0% in May 2023, from 20.8% in April 2023. In the Services sector, the rate decreased from 19.4% in April 2023 to 18.1% in May 2023.

The Electricity and gas (51.8%), Accommodation and food service activities (51.0%), Transportation and storage (50.7%), Mining and quarrying (36.5%), and Water supply, sewerage, and waste management (31.7%) recorded rates above the national average.
The GSS data was released on Wednesday, June 21.

Source:3news.com