Manufacturing, Petroleum sub-sectors push Producer Price Inflation to 31.2%
The manufacturing and petroleum sub sectors pushed the Producer Price Inflation (PPI) high to 31.2%, signaling increasing price of goods and services.
According to the Ghana Statistical Services, the month-on-month change in the producer price index between March 2022 and April 2022 was 1.1%.
Indeed, the producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.6 percentage points to 38.6%.
That of the Petroleum Price Index also went up to 76.1% in April 2022, signaling the rising fuel prices at the pumps.
The PPI in the Mining and Quarrying sub-sector increased by 1.6 percentage points over the March 2022 rate of 33.6% to 35.2% in April 2022.
The utility sub sector however recorded a 1.1% inflation rate for April 2022.
In April 2022, two out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 38.6%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 76.1%, while the publishing, printing and reproduction of recorded media recorded the least inflation rate of 2.6%.
For month-on-month, the manufacturing sub-sector recorded the highest monthly inflation rate of 1.6%, followed by the mining and quarrying sub-sector which recorded a rate of 0.4%. The utility sub-sector recorded no inflation in the month of April 2022.