Latest data from the Ghana Statistical Service (GSS) shows a significant decline in producer price inflation (PPI).
The PPI rate for November 2024 stood at 26.9 percent, representing a 6.1 percentage point decrease from the rate recorded in October 2024.
This decline in producer price inflation indicates a slowdown in the rate at which prices are increasing at the production level.
The month-on-month change in the PPI between October 2024 and November 2024 was negative 1.9 percent, further highlighting the decline in producer inflation.
The Industry sector, excluding the construction sector, saw a significant decline in producer inflation, from 48.9 percent in October 2024 to 41.3 percent in November 2024.
The construction sector also saw a decline in producer inflation, from 34.5 percent in October 2024 to 31.1 percent in November 2024, recording inflation rates above the national average of 26.9 percent.
The Services sector recorded a producer inflation rate of 12.5 percent in November 2024, with Mining and quarrying recording 41.9 percent.
Producer inflation for accommodation and food service activities was 32.5 percent in November.
Transportation and storage recorder producer inflation rate of 31.7 percent.
In contrast, Water supply, sewerage, and waste management activity recorded the lowest rate of 5.0 percent in November 2024.
By Eben Agyekum-Boateng, 3Business