The Producer Price Inflation rate for May 2022 hit 33.5%, the Ghana Statistical Service has announced. This rate represents a 2.1 percentage point increase in producer inflation relative to the rate recorded in April 2022 (31.4%).
The month-on-month change in the producer price index between May 2022 and May 2022 was 3.6 percent.
According to figures from the GSS, the PPI in the Mining and Quarrying sub-sector decreased by 11.3 percentage points over the April 2022 rate of 35.2% to 23.9% in May 2022.
The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 6.1 percentage points to 45.0%.
The utility sub-sector recorded the lowest inflation rate of 1.1% for May 2022.
In terms on month-on-month inflation, the manufacturing sub-sector recorded the highest inflation rate of 6.4%, followed by the utility sub-sector which recorded no change. The mining and quarrying sub-sector recorded the least inflation of -4.6% in May 2022.
For manufacturing, one out of the 16 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 45.0%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 121.0%, while the Manufacture of machinery and equipment n.e.c. recorded no inflation rate.
The producer inflation rate in the petroleum subsector was however 121% in May 2022.
- You can only demonstrate from 8am to 4pm – High Court tells Arise Ghana
- Former NDA CEO accuses successor of doctoring figures, forging his signature in ¢10m fraud case
- Caught in conflict: GII calls for dismissal of Deputy Sanitation Minister
- Photos: Osinachi laid to rest
- SIM card registration deadline will not be extended – Communications Minister
- ‘AG won’t get any apology from me, I’m ready to meet him in court’ – Ablakwa
- Jackie Appiah’s home leaves many speechless
- Arise Ghana appeals High Court ruling on protest
- Government will withdraw e-levy if it’s not helpful – Kwaku Kwarteng
- Arise Ghana hits the street today to protest poor economic conditions
Growing resilient MSMEs in Africa for a sustainable future
Let’s preach environmental responsibility in churches, mosques – Annoh-Dompreh
There were lots of fixed games on the final day of the GPL – Albert Commey
World Bank Open Budget Survey: Ghana ranked 2nd in Sub-Saharan Africa
Asenso-Boakye discusses sustainable urbanization with UN-Habitat chief
‘E-levy not a bad tax; Ghanaians just don’t want to pay taxes’ – Gabby Otchere-Darko
Traders and transport operators give government feedback on mitigation measures
Toxic gas leak kills 13, injures hundreds at Jordan’s Aqaba port
Ofori-Atta has not indicated need to seek economic support from IMF – Oppong Nkrumah
Estate of late photographer files Lawsuit against Universal Music Group over 2Pac photo
Withdraw E-Levy; Ghanaians don’t like it – Bokpin
Texas migrant deaths: At least 46 found dead in abandoned lorry
Indian police arrest journalist over tweets criticising Prime Minister
Buhari appoints new chief justice after resignation of Tanko Muhammed
Time is not on our side, ‘going to IMF is not a sin’ – Bokpin to government