Data released by the Ghana Statistical Service has revealed that the Producer Price inflation rate for June 2024 has increased to 25.9%.
The percentage is higher than the 23.6% recorded in May 2024.
The rate increased by 25.9 percent between June 2023 and June 2024.
The increase represents a 2.5 percentage point surge in producer inflation relative to the rate recorded in May 2024.
The month-on-month change in the rate between May 2024 and June 2024 was 2.7 percent.
The Producer Price Index measures the average change over time in the selling prices of goods and services received by domestic producers.
The data showed that the producer price inflation in the industry sector excluding the construction sector increased to 29.4 percent in June 2024 from 28.5 percent in May 2024.
The rate in the construction sector increased to 29.4 per cent in June 2024. In the Services sector, the rate increased from 11.4 per cent in May 2024 to 12.2 per cent in June 2024.
The activities related to water supply, sewerage, and waste management recorded the lowest inflation rate of 2.6% in June 2024, while the activities related to mining and quarrying, construction, lodging, and food services had rates above the national average.
By: Rainbowradioonline.com/Ghana