Inflation from the producer perspective fell marginally by 1.7% to 10.1% in June 2021, the Ghana Statistical Service has revealed.

The month-on-month change in the Producer Price Index (PPI) between May 2021 and June 2021 was 1.1%.

The PPI in the Mining and Quarrying sub-sector decreased by 3.2 percentage points over the May 2021 rate of 12.7% to record 9.5% in June 2021.

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, also decreased by 1.8 percentage points to record 12.8%.

The utility sub-sector recorded no inflation rate for June 2021.

In June 2021, five out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 12.8%.

Manufacture of motor vehicles, trailers, and semitrailers recorded the highest inflation rate of 28.4%, while the Manufacture of electrical machinery and apparatus n.e.c. recorded the least inflation rate of 0%.

Trend analysis

In June 2020, the PPI for all industry was 9.5%. The rate decreased to 9.0% in August 2020. It however increased to 9.7% in September 2020 but declined consistently to record 7.0% December 2020.

In March 2021, the rate increased to 13.0%. However, in April 2021, it declined to 10.9%. In May 2021, the rate rose to 11.8% but decreased to 10.1% in June 2021.