{"id":1228774,"date":"2022-10-19T14:19:48","date_gmt":"2022-10-19T14:19:48","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/10\/19\/producer-price-inflation-rate-surges-to-45-6-in-september\/"},"modified":"2022-10-19T14:19:48","modified_gmt":"2022-10-19T14:19:48","slug":"producer-price-inflation-rate-surges-to-45-6-in-september","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/10\/19\/producer-price-inflation-rate-surges-to-45-6-in-september\/","title":{"rendered":"Producer Price Inflation rate surges to 45.6% in September"},"content":{"rendered":"

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\n\"Producer<\/p>\n

\nProducer Price Inflation rate surges to 45.6% in September <\/p>\n<\/div>\n

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Wholesale prices rose by 5.9% in September 2022 from August 2022 after a rebasing exercise.<\/span>, the Ghana Statistical Service announced on Wednesday.<\/h2>\n

The producer price index, a measure of the average change over time in the prices received by Ghana-based producers for the production of their goods and services increased by 45.6% on a 12-month basis.<\/p>\n

The producer price inflation in the Industry sector increased to 54.5 per cent in September 2022 from 48.6 per cent in August 2022.<\/p>\n

<\/p>\n

In the construction sector, the rate declined marginally from 26.2 per cent in August 2022 to 25.1 per cent in September 2022.<\/p>\n

In the Services sector, the rate was 5.7 per cent in August 2022 compared to 5.6 per cent in September 2022.<\/p>\n

Mining and quarrying (57.5%), and manufacturing (58.2%) recorded the highest rates while Information and communication activity recorded the lowest rate of 0.9 per cent in September 2022.<\/p>\n

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Rebasing factors<\/strong><\/p>\n

Announcing the rebased PPI figures at a press briefing today in Accra, the Government Statistician, Professor Samuel Kobina Annim said the new reference year was now 2019.<\/p>\n

He added the computation was based on the selection of items in a fixed basket collected during a survey in 2019 involving 835 randomly selected companies (an increase on the previous 225 firms) from the 2013 Integrated Business Establishment Survey database.<\/p>\n

<\/p>\n

He stated that the GSS collected data on 2,639 items from 603 firms nationwide for September’s PPI.<\/p>\n

The September PPI also featured an increase in the activities surveyed\u00a0from three (Mining and quarrying; manufacturing and utilities)<\/span> to eight. It featured Mining and quarrying; manufacturing; electricity and gas; water supply; construction; transportation and storage; accommodation and food service activities and information and communication.<\/p>\n<\/div>\n