- PPI in Ghana continued its upward trajectory
- The Industry sector witnessed a particularly sharp rise
- The Natural Gas sector saw a notable decrease in inflation
Producer Price Inflation (PPI) in Ghana continued its upward trajectory in August 2024, reaching 33.2%—a 4.1 percentage point increase from the previous month.
This rise was primarily driven by increases in the Industry and Services sectors.
The Industry sector witnessed a particularly sharp rise, with inflation jumping to 44.2% in August from 37.9% in July.
Construction, however, saw a decline, dropping to 27.7%.
Within the Services sector, inflation rose from 12.6% to 14.0%. Mining and Quarrying activities recorded rates above the national average, while Water Supply, Sewerage, and Waste Management had the lowest rate at 3.2%.
The Construction sector experienced a significant month-on-month decline, dropping 7.8 percentage points to 22.7%.
Civil engineering and building construction sub-sectors led the sector’s inflation, while specialized construction recorded the lowest rates.
The Extraction of Crude and Natural Gas sector saw a notable decrease in inflation, falling to 33.4% from 44.0% in July.
However, the Mining of Metal Ores sector experienced a substantial increase, reaching 71.7%.
These developments highlight the ongoing inflationary pressures facing Ghana’s economy, particularly in key sectors like Industry and Services.
