BTA2023 The Ghana Statistical Service has reported a marginal decline in Producer Price Inflation (PPI) to 26.1% in December 2024. This represents a 0.9 percentage point decrease from the previous month.
Key Findings
- Month-on-Month Decline: While the annual inflation rate saw a slight decrease, the month-on-month change between November and December 2024 was -1.4%.
- Sector Performance:
- Industry: The Industry sector (excluding Construction) saw a decrease in inflation from 41.4% in November to 40.2% in December.
- Construction: The Construction sector also experienced a decline in inflation to 29.6%.
- Services: The Services sector recorded an inflation rate of 6.8%.
- High Inflation Sectors: Mining and Quarrying (42.8%), Accommodation and Food Services (30.5%), and Construction (29.6%) continued to experience inflation rates above the national average.
- Lowest Inflation: Water Supply, Sewerage, and Waste Management Activity recorded the lowest inflation rate at 5.0%.
Industry Sector
- Manufacturing: Two major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 18.9%.
- Manufacture of Basic Metals: 43.8%
- Manufacture of Motor Vehicles: 38.3%
- Lowest Manufacturing Inflation: Water Collection, Treatment, and Supply recorded the lowest inflation rate at 2.9%.
Services Sector
- Transport and Storage: Experienced a significant decrease in inflation, falling from 31.7% in November to 23.1% in December.
- Accommodation and Food Services: Saw a slight decrease in inflation from 32.5% to 30.5%.
- Information and Communication: Recorded an inflation rate of 2.9%.
Overall, the decline in PPI in December 2024 provides some positive signs. However, high inflation rates persist in certain sectors, requiring continued monitoring and appropriate policy responses.
Disclaimer: This is a summary based on the provided information. For the most accurate and up-to-date data, please refer to the official publications of the Ghana Statistical Service.**
