The most recent statistics from the Ghana Statistical Service indicates that the producer price inflation rate for June 2024 has risen to 25.9%, up from 23.6% in May.
This rate implies that from June 2023 and June 2024, the rate climbed by 25.9%.
The spike indicates a 2.5 percentage point increase in producer inflation compared to the rate reported in May 2024. The monthly change in the rate between May 2024 and June 2024 was 2.7%.
The Producer Price Index tracks the average change in selling prices of products and services received by domestic producers.
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According to the statistics, producer price inflation in the industry sector excluding construction rose to 29.4 percent in June 2024 from 28.5 percent in May 2024.
In June 2024, the construction rate rose to 29.4%. In the services sector, the rate rose from 11.4% in May 2024 to 12.2% in June 2024.
While mining and quarrying, building, housing, and food services industries saw higher inflation rates than the national average, water supply, sewerage, and waste management saw the lowest rate of 2.6% in June 2024.
