Producer Price Inflation Hits 25.9% In June, Up From 23.6% In May

The latest data from the Ghana Statistical Service indicates that the Producer Price Inflation rate for June 2024 has increased to 25.9%, higher than the 23.6% recorded in May 2024.

This rate indicates that between June 2023 and June 2024, the rate increased by 25.9 per cent.

The increase represents a 2.5 percentage point surge in producer inflation relative to the rate recorded in May 2024.

The month-on-month change in the rate between May 2024 and June 2024 was 2.7 per cent.

The Producer Price Index measures the average change over time in the selling prices of goods and services received by domestic producers.

Per the data, the producer price inflation in the industry sector excluding the construction sector increased to 29.4 percent in June 2024 from 28.5 percent in May 2024.

The rate in the construction sector increased to 29.4 per cent in June 2024. In the Services sector, the rate increased from 11.4 per cent in May 2024 to 12.2 per cent in June 2024.

While mining and quarrying, construction, accommodation and food services activities recorded inflation rates above the national average, the water supply, sewerage and waste management activity recorded the lowest rate of 2.6 per cent in June 2024.

Source: citinewsroom