Ghana’s Producer Price Inflation eases to 30.4% in September 2024

Producer Price Inflation in Ghana recorded a slight decline in September 2024, easing from 33.2 percent in August to 30.4 percent. This represents a 2.8 percentage points decrease year-on-year.

The month-on-month change between August and September was a modest 0.6 percent.

Despite the overall decline, certain sectors continued to experience significant inflationary pressures.

The Industry sector, excluding construction, saw a drop in inflation to 43.0 percent in September from 44.6 percent in August. However, the construction sector registered an uptick, reaching 23.2 percent in September.

Services sector saw inflation rate dropped to 12.3 percent in September from 14.0 percent in August.

Among specific industries, Mining and quarrying, Accommodation and food service activities, and Transportation and storage recorded inflation rates above the national average.

In contrast, Water Supply, Sewerage and Waste Management activity had the lowest inflation rate at 4.0 percnet.

While the easing of Producer Price Inflation is a positive development, the persistent high rates in certain sectors remain a concern. This feeds into high Consumer Price Inflation. Government and policymakers will need to continue monitoring these trends closely and implement appropriate measures to address inflationary pressures.