The Ghana Statistical Service announced on Wednesday that the Producer Price Inflation (PPI) rate for April 2022 is 31.2 per cent.
The rate is a 1.9 percentage point increase in producer inflation over the rate of 29.3 per cent reported in March 2022.
Professor Samuel Kobina Annim, the Government Statistician, stated that the producer price index increased by 1.1 per cent from March to April 2022.
The manufacturing sub-sector had the greatest rate of year-on-year producer price inflation, at 38.6%, followed by the mining and quarrying sub-sector at 35.2%.
The utility sub-sector recorded the lowest year-on-year producer inflation rate of 1.1 per cent.
With a monthly inflation rate of 1.6 per cent, the manufacturing sub-sector led the way, followed by the mining and quarrying sub-sector with 0.4 percent.
The utility sub-sector recorded no inflation in the month of April.
The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The PPI for Ghana reports the producer price indices with reference to September 2006, the base period.
For the previous twelve months, the publication includes annual and monthly producer inflation rates for all industries and three key sub-sectors of industry.
Will this development culminate in a further increase in the price of commodities in the country? And will salaries be increased to make everyday living a bit bearable? We live to see.
Source: Ghana Financial Market