The Year-on-year inflation rate at ex-factory prices for all goods and services was 16.8% in April 2024, the Ghana Statistical Service has reported.

This is higher than the 15.3% recorded in March 2024.

The month-on-month Producer Price Inflation (PPI) or ex-factory prices was 4.1% in April 2024, higher than the 3.2% recorded in March 2024.

The producer price inflation in the industry sector excluding the construction sector increased to 20.2% in April 2024 from 18.8% in March 2024.

The rate in the construction sector decreased to 50.0% in April 2024.

In the Services sector, the rate increased from 7.6%in March 2024 to 9.4% in April 2024.

The Construction (50.0%), Mining and Quarrying (26.4%), Electricity and Gas (23.8%), and Accommodation and Food Services Activities (23.5%) recorded inflation rates above the national average (16.8%), while Water Supply, Sewerage and Waste Management activity recorded the lowest rate of 7.5% in April 2024.

Industry

For the Manufacturing Sub-Sector In April 2024, 10 of the 23 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 7.6%.

The Manufacture of beverages recorded the highest inflation rate of 38.2%, followed by the Manufacture of wearing apparel at 37.7%.

Services

The Service producer price inflation in the Transport and Storage sub-sector increased by 3.0 percentage points over the March 2024 rate of 12.1% to 15.1% in April 2024.

The Accommodation and Food Services sub-sector rate increased by 2.6 percentage points to 23.5% in April 2024.

The Information and Communication sub-sector recorded an inflation rate of 7.7% for April 2024.

Construction

The inflation in the construction of buildings subsector increased by 0.1 percentage points over the March 2024 rate of 8.0% to 9.0% in April 2024.

The rate for the civil engineering sub-sector decreased by 11.9 percentage points to 74.0% in April 2024. The specialized construction activities sub-sector recorded a 5.5% inflation rate for April 2024 compared with 5.8% in March 2024.