The Producer Price Inflation rate for May 2021 (year-on-year), the PPI increased to 11.8 percent, representing a 0.9 percentage point increase in producer inflation relative to the rate recorded in April 2021 (10.9%).
The month-on-month change in producer price index between April 2021 and May 2021 was 2.0 percent.
The producer price inflation in the Mining and Quarrying sub-sector increased by 0.8 percentage points over the April 2021 rate of 11.9 percent to record 12.7 percent in May 2021.
The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 1.2 percentage points to record 14.6 percent.
According to Government Statistician, Prof. Samuel Kobina Annim, “the utility sub-sector recorded no inflation rate for May 2021. In May 2021, five out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 14.6 percent.”
Manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation rate of 33.6 percent, while the Manufacture of electrical machinery and apparatus n.e.c. recorded the least inflation rate of 0.0 percent.
Producer Price Inflation Rate in May 2021 is 11.8%. The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.
The PPI for Ghana reports the producer price indices with reference to September 2006, the base period. This release shows the annual (year-on-year) and monthly producer inflation rates for all industries and three major sub-sectors of industry (Mining and Quarrying, Manufacturing and Utilities) for the last twelve months. The figures for the month of May 2021 are provisional and are subject to revision when additional data become available.
Story by Edzorna Francis Mensah.
