Producer Price Inflation (PPI) in Ghana saw a slight decline in September 2024, easing to 30.4% from 33.2% in August, marking a 2.8 percentage point decrease year-on-year.
The month-on-month change between August and September reflected a modest growth of 0.6%.Despite the overall downward trend, some sectors continued to grapple with significant inflationary pressures.
The industrial sector, excluding construction, experienced a reduction in inflation, dipping to 43.0% in September from 44.6% in August.
However, the construction sector bucked this trend, with inflation rising to 23.2% in September.
The services sector also saw a relief in inflation, dropping to 12.3% in September from 14.0% in August.
Notably, specific industries such as mining and quarrying, accommodation and food service activities, and transportation and storage experienced inflation rates higher than the national average, signaling ongoing pressures in these areas.
Conversely, the water supply, sewerage, and waste management sector reported the lowest inflation rate, standing at 4.0%.While the easing of the PPI is a positive signal for the economy, the persistent high inflation in key sectors remains a cause for concern.
This pressure feeds into consumer price inflation, which could continue to strain households and businesses.
Policymakers will need to keep a close eye on these inflationary trends and consider targeted interventions to mitigate the impact on the economy.
Story by : Mercy Addai Turkson
