The Ghana Statistical Service (GSS) has reported that the Producer Price Inflation (PPI) rate for July 2024 stands at 29.1%, marking a 3.5 percentage point increase compared to June 2024.
The month-on-month change in the PPI from June to July was 3.7%.
The PPI measures the average change in the selling prices of goods and services as received by domestic producers over time. According to the data, the Industry sector, excluding construction, saw producer price inflation rise from 32.3% in June to 37.9% in July 2024. The Construction sector also experienced an increase, with its rate climbing to 30.5% in July.
In the Services sector, the PPI increased slightly from 12.1% in June to 12.6% in July 2024. Notably, the Mining and Quarrying sector recorded the highest inflation rate at 48.8%, followed by Construction at 30.5%, both above the national average of 29.1%. Conversely, Water Supply, Sewerage, and Waste Management activities recorded the lowest inflation rate at 2.6% in July 2024.
