Year-on-year inflation at factory gate prices for all goods and services fell to 43.7% in March 2023, from 50.8% recorded February 2023, according to the Ghana Statistical Service.

This is in line with the Consumer Price Inflation which also fell to 45.0% in March 2023.

According to the data, the monthly producer inflation rate was 1.7%.

For the sectors, Industry recorded the highest Producer Price Inflation (PPI) of 43.3% in March 2023, compared to 57.9% in March 2022. It was followed by Construction with PPI of 18.8% and Services with PPI of 18%.

With regard to the sub-sectors, Transportation and Storage recorded the highest year-on-year PPI of 59.3%.

Electricity and Gas (57.5%); Accommodation and Food Services (47.0%) and Manufacturing (46%) also recorded PPI higher than the average producer inflation.