The country’s year-on-year Producer Price Inflation for December fell marginally to 26.1 per cent from 27.0 per cent in November, the Ghana Statistical Service released on the Producer Price Index for December, 2024 in Accra on Wednesday, has disclosed.
On month-on-month, the produce price inflation between November 2024 and December 2024 fell to 1.4 per cent.
It said the producer price inflation for industry fell to 40.2 per cent in December 2024, from 41.2 per cent in November 2024.
That, the GSS said, represented a 1.2 percentage point decrease in the industrial producer inflation and a month-on-month change rate which fell by 2.3 per cent.
“The industrial producer price inflation in the mining and quarrying sub-sector increased in December 2024 to 42.8 per cent by 0.9 percentage point compared to the November 2024 rate of 41.9 per cent,” the GSS stated.
It again noted that the manufacturing sub-sector decreased by 0.5 percentage point to 18.9 per cent in December, and electricity and gas sub-sector recorded a 8.1 per cent inflation rate for December, a decrease of 2.3 percentage points over the November rate of 10.4 per cent.
“In December 2024, the extraction of crude and natural gas recorded an inflation rate of 21.0 per cent, indicating an increase of 3.9 percentage points over the November rate,” the GSS revealed.
On the construction sector, the data said the year-on-year producer inflation for construction was 29.6 per cent in December 2024, with the monthly change rate of 0.9 per cent.
“The civil engineering sub-sector recorded the highest year-on-year produce price inflation rate of 36.1 per cent, followed by the specialised construction sub-sector with 19.0 per cent. The construction of buildings sub-sector recorded the lowest year-on-year producer inflation of 15.3 per cent,” it explained.
Furthermore, the GSS said the specialised construction activities
recorded the highest month-on-month inflation rate of 0.6 per cent, followed by the Civil engineering sub-sectors which recorded negative 0.04 per cent and construction of buildings sub-sector recorded the lowest inflation rate of negative 3.1 per cent in December 2024.
The data indicated that the year-on-year service producer price inflation was 6.8 per cent in December 2024, the monthly change rate of negative 1.2 per cent.
“The accommodation and food service sub-sector recorded the highest year-on-year producer price inflation rate of 30.5 per cent, followed by transport and storage sub-sector with 23.1 per cent. The information and communication sub-sector recorded the lowest year-on-year producer inflation rate of 2.9 per cent,” the data elaborated.
Moreover, it mentioned that the information and communication sub-sector recorded the highest month-on-month inflation rate of negative 0.1 per cent followed by the accommodation and food service sub-sector with negative 2.4 per cent.
Transport and storage sub-sectors recorded the lowest month-on-month inflation rate of negative 6.0 per cent in December 2024.
BY KINGSLEY ASARE
