Sunday, 27 November

PPI for October shoots to 65.2%

Business
The Producer Price Index (PPI) for October 2022 rose to 65.2% up from the 45.9% recorded in September

The Producer Price Index (PPI) for October 2022 rose to 65.2% up from the 45.9% recorded in September.

The report from the Ghana Statistical Service (GSS) indicates that between October 2021 and October 2022, year-on-year, the PPI increased by 65.1%, representing a 19.3 percentage points increase in producer inflation relative to the rate recorded in September 2022: 45.9%.

The month-on-month change in the PPI between September and October 2022 was 15.4%.

“Mining and quarrying (86.4%), manufacturing (73.1%), transport and storage (71.4%) recorded the highest rates, while information and communication activity recorded the lowest rate of 1.4% in October 2022,” the GSS report released on Wednesday, November 16, 2022 said.

The Producer Price Index (PPI) measures the average change over time in the prices received by domestic producers for the production of their goods and services.

Source: classfmonline.com/Zita Okwang