Producer Price Inflation declines marginally to 26.1% in December 2024

The Producer Price Inflation declined marginally by 0.9 percentage points to 26.1% in December 2024.

The month-on-month change in the PPI between November 2024 and December 2024 was however -1.4%.

According to the Ghana Statistical Service, the producer price inflation in the Industry sector, excluding the construction sector decreased from 41.4% in November 2024 to 40.2% in December 2024.

The rate in the Construction sector also decreased to 29.6% in December 2024. In the Services sector, the rate was 6.8% in December 2024.

However, the Mining and Quarrying (42.8%), Accommodation and Food Service Activities (30.5%), and Construction (29.6%) recorded inflation rates above the national average (26.1%).

In contrast, Water Supply, Sewerage, and Waste Management Activity recorded the lowest rate of 5.0% in December 2024.

Industry Sector

In December 2024, two of the 23 major groups in the manufacturing sub-sector recorded inflation rates higher than the Sector’s average of 18.9%.

The Manufacture of Basic Metals recorded the highest inflation rate of 43.8%, followed by the Manufacture of Motor Vehicles, Trailers and Semi-Trailers at 38.3%.

Waste Collection, Treatment, and Disposal Activities; Materials Recovery recorded an inflation rate of 7.2%, indicating an increase of 0.1 percentage points over the November 2024 rate of 7.1%.

The Water Collection, Treatment, and Supply Inflation recorded the lowest inflation (2.9%) rate in December 2024.

Services Sector

The Service producer price inflation in the Transport and Storage sub-sector decreased by 8.6 percentage points from 31.7% in November 2024 to 23.1% in December 2024.

The Accommodation and Food Services sub-sector rate decreased by 2.0 percentage points from 32.5% in November 2024 to 30.5% in December 2024. The Information and Communication sub-sector recorded an inflation rate of 2.9% for December 2024.