Producer Price Inflation rises to 15.6% in January

The Producer Price Inflation (PPI) has increased to 15.6 per cent in January 2022 from 14.7 per cent in December.

This rate represents a 0.9 percentage point increase in PPI relative to the rate recorded in December 2021 (14.7 per cent) and the month-to-month change rate of 4.0 per cent.

Government Statistician, Professor Samuel K Annim, disclosed this at a news conference in Accra yesterday and said the increase was driven by the manufacturing sector.

He explained that the Manufacturing, which constituted more than two-thirds of the total industry, in January recorded an inflation of 22.9 per cent.

“The manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 35.0 per cent,” he said.

Prof. Annim said “the manufacture of motor vehicles, trailers and semitrailers recorded the least inflation of -2.9 per cent” under the manufacturing sector.

Mining and Quarrying recorded an inflation rate of 2.2 per cent in January.

“The PPI in the Mining and Quarrying sub-sector increased by 2.1 percentage points over the December 2021 rate of 0.1 per cent to record 2.2 per cent,” he emphasised.

Prof. Annim said the Utilities sector, recorded the lowest year-on-year producer inflation rate of 0.3 per cent. 

On the petroleum sub-sector, The Government Statistician said producer price inflation rate in the Petroleum sub-sector reduced to 35.0 percent from 58.4 per cent in November 2021.

BY KINGSLEY ASARE

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