According to the Ghana Statistical Service (GSS), the rate of producer price inflation for June 2022 was 38%.
According to this rate, the PPI climbed by 38.0% between June 2021 and June 2022 (year over year), the GSS reported on July 20. Comparing this rate to the rate seen in May 2022, producer inflation has increased by 4.7 percentage points (33.3 percent ).
Between May 2022 and June 2022, the producer price index changed by 4.6 percent month over month. Producer price inflation in the Mining and Quarrying sub-sector climbed from 23.9 percent in May 2022 to 25.5 percent in June 2022, an increase of 1.6 percentage points.
The Manufacturing sub-sector, which accounts for more than two-thirds of the whole industry, has seen producer inflation. The Manufacturing sub-sector, which accounts for more than two thirds of the whole industry, had an increase in producer inflation of 7.2 percentage points to 51.8 percent.
For the month of June 2022, the utilities subsector's inflation rate was 1.2 percent.
The rate of producer price inflation across all industries in June 2021 was 10.1%. In August 2021, the rate dropped to a record-low 8.1 percent, but in September, it rose to a record-high 8.8 percent.
The rate then picks up its rising trend again and rises steadily until it reaches a record high of 38.0 percent in June 2022. One of the sixteen largest groupings in the manufacturing sub-sector had inflation in June 2022 that was greater than the 51.8 percent average for the industry.
The largest rate of inflation was reported in the production of coke, refined petroleum products, and nuclear fuel. the lowest inflation rate was 0.0 percent for the manufacture of machinery and equipment.
In June 2021, the petroleum subsector's producer inflation rate was 23.9 percent. In July 2021, the rate jumped to 25.2%. Following that, it continued to rise, reaching 58.4% in November 2021, before falling to 36.0 percent in January 2022. The rate grew to 44.3 percent in February 2022 and shot up to 135.9 percent in June 2022.
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