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PPI drops; ends December 2024 at 26.1%

 The latest data from the Ghana Statistical Service indicates that the Producer Price Inflation (PPI) rate for December 2024 decreased to 26.1%, down from 27.0% recorded in November 2024.

This reflects a 0.9 percentage point drop in year-on-year producer inflation. The month-on-month change in the PPI between November 2024 and December 2024 was -1.4%.

According to the data, producer inflation in the industrial sector, excluding the construction sector, declined from 41.4% in November 2024 to 40.2% in December 2024.

The rate in the construction sector also decreased to 29.6%, while the services sector recorded a significant drop to 6.8% in December 2024.

Among the activities, mining and quarrying registered the highest inflation rate at 42.8%, followed by accommodation and food service activities at 30.5%, and construction at 29.6%.

In contrast, water supply, sewerage, and waste management recorded the lowest inflation rate of 5.0% in December 2024.

The Producer Price Index measures the average change over time in the prices received by domestic producers for goods and services.

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