According to the Ghana Statistical Service, the rate of producer price inflation for May 2022 was 33.5%. Compared to the rate recorded in April 2022, this rate represents a 2.1 percentage point increase in producer inflation (31.4 per cent).
Between May 2022 and May 2022, there was a 3.6 percent monthly change in the producer price index.
According to data from the GSS, the PPI in the Mining and Quarrying sub-sector dropped from 35.2% in April 2022 to 23.9% in May 2022, a drop of 11.3 percentage points.
The Manufacturing sub-sector, which makes up more than two thirds of the entire industry, had an increase in producer inflation of 6.1 percentage points to 45.0 percent.
The utility sub-sector recorded the lowest inflation rate of 1.1 per cent for May 2022
In terms on month-on-month inflation, the manufacturing sub-sector recorded the highest inflation rate of 6.4 per cent, followed by the utility sub-sector which recorded no change. The mining and quarrying sub-sector recorded the least inflation of -4.6 per cent in May 2022.
For manufacturing, one out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 45.0 per cent.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 121.0 per cent, while the manufacture of machinery and equipment n.e.c. recorded no inflation rate.
The producer inflation rate in the petroleum subsector was however 121 per cent in May 2022. –Myjoyonline.com
