GHANA’S INDUSTRIAL PPI DROPS TO 43% IN SEPTEMBER 2024 SIGNALING POSSIBLE PRODUCTION COSTS MODERATION.
The Industrial Producer Price inflation (I-PPI) rate in Ghana recorded a slight decline in September 2024, easing from 44.6 percent in August to 43.0 percent. This represents a 1.6 percentage point decrease year-on-year
The manufacturing sub-sector also saw a modest decline, decreasing to 21.8 percent from 22.9 percent. Within the manufacturing sub-sector, four major groups recorded inflation rates higher than the sector’s average. The manufacture of basic metals led with a 52.0 percent inflation rate, followed by the manufacture of beverages at 44.5 percent.
However, the electricity and gas sub-sector recorded a more moderate decrease, dropping to 10.4 percent in September from 12.4 percent in August. The water supply, sewerage, and waste management sub-sector remained relatively stable, with an inflation rate of 4.0 percent.
The waste collection, treatment, and disposal activities; materials recovery sector experienced a notable increase in inflation, rising to 6.8 percent in September from 2.9 percent in August.
The decrease in industrial producer inflation could signal a moderation in production costs, potentially benefiting businesses and consumers. However, the ongoing fluctuations in inflation rates across sectors underscore the need for continued monitoring and strategic planning.
