PPI for October shoots to 65.2%

The Producer Price Index (PPI) for October 2022 rose to 65.2% up from the 45.9% recorded in September.

The report from the Ghana Statistical Service (GSS) indicates that between October 2021 and October 2022, year-on-year, the PPI increased by 65.1%, representing a 19.3 percentage points increase in producer inflation relative to the rate recorded in September 2022: 45.9%.

The month-on-month change in the PPI between September and October 2022 was 15.4%.

“Mining and quarrying (86.4%), manufacturing (73.1%), transport and storage (71.4%) recorded the highest rates, while information and communication activity recorded the lowest rate of 1.4% in October 2022,” the GSS report released on Wednesday, November 16, 2022 said.

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The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.