The year-on-year producer price inflation for April 2022 has increased to 31.2% from the 29.3% recorded in March 2022, the Ghana Statistical Service (GSS) has said.
This rate represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in March 2022 (29.3%).
The month-on-month change in the producer price index between March 2022 and April 2022 was 1.1%.
The producer price inflation in the mining and quarrying sub-sector increased by 1.6 percentage points over the March 2022 rate of 33.6% to 35.2% in April 2022.
The producer inflation for the manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 2.6 percentage points to 38.6%. The utility sub-sector recorded a 1.1% inflation rate for April 2022.
Trends
In April 2021, the producer price inflation rate for all industry was 10.9%. The rate increased to a record 11.8% but decreased continuously to record 8.1% in August 2021.
Subsequently, it resumes an upward trend to record 31.2% in April 2022.
Manufacturing sector
In April 2022, two out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 38.6%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 76.1%, while the publishing, printing and reproduction of recorded media recorded the least inflation rate of 2.6%.
Petroleum price index
In April 2021, the producer inflation rate in the petroleum sub-sector was 28.0 percent. The rate then fluctuates between May and August 2021.
Thereafter, it increased continuously to 58.4% in November 2021 but dropped to 36.0% in January 2022.
The rate resumed an upward trend to record 76.1% in April 2022.
Highlights
The year-on-year producer inflation for all industry was 31.2% in April 2022; the monthly change rate was 1.1%.
The manufacturing sub-sector recorded the highest year-on-year producer price inflation rate of 38.6%, followed by the mining and quarrying sub-sector with 35.2%.
The utility sub-sector recorded the lowest year-on-year producer inflation rate of 1.1%.
The manufacturing sub-sector recorded the highest monthly inflation rate of 1.6%, followed by the mining and quarrying sub-sector recorded a rate of 0.4%.
The utility sub-sector recorded no inflation in the month of April.
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