The year-on-year Producer Price Inflation went up by 2.1% in January to 9.1% in January 2021, figures from the Ghana Statistical Service has revealed.

This upward change was influenced by prices of certain manufacturing products.

However, the month-on-month change in PPI between December 2020 and January 2021 was 3.5%.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 3.7 percentage points to record 7.5%.

Three out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 7.5%.

Manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation rate of 37.7%, while the Manufacture of electrical machinery and apparatus n.e.c. and Manufacture of machinery and equipment n.e.c. recorded the least inflation rate of 0.0%.

However, the PPI in the Mining and Quarrying sub-sector decreased by 4.1 percentage points over the December 2020 rate of 31.5%  to record 27.4% in January 2021.

The utility sub-sector as usual recorded no change in the inflation rate in January 2021.

The rate in the petroleum sector was 6.6% in January 2021, compared to -5.0% in November 2020.

Trends

 In January 2020, the producer price inflation rate for all industry was 14.5%.

The rate declined to 6.8% in March 2020. It however increased continuously to record 9.5% in June 2020 but declined to 9.0% in August 2020.

The rate increased to record 9.7% in September 2020 but declined continuously to record 7.0%  in December 2020