New data published by the Ghana Statistical Service has revealed that the Producer Price Index (PPI) for January 2023 slightly dropped to 52.1percent,
This means that, the Producer Price Index (PPI), which measures the average change over time in the prices received by domestic producers for the production of their goods and services, between January 2022 and January 2023 increased by 52.1percent.
This new figure represents a 0.1 percentage point decrease in the rate recorded in December 2022 which stood at 52.2percent. On the monthly basis, the PPI between December 2022 and January 2023 decreased by 0.9 percent.
Addressing the media on Wednesday, February 22, 2023, Government Statistician, Professor Samuel Kobina Anim explained that on sectorial basis, Industry was the main driver recording a PPI of 58.6percent in January 2023 which represents a decrease of 7.1percentage points from the previous month.
The Construction sector also recorded a marginal decrease in January 2023 recording 20.4percent from 22.1percent in December 2022.
On the Service sector, another marginal decrease was recorded. From 10.5percent in December 2023, the rate decreased by 1percentage points to 9.5percent in January 2023.
“The rate in the construction sector decreased to 20.4 percent in January 2023 from 22.1 percent in December 2022. In the Services sector, the rate decreased from 10.5 percent in December 2022 to 9.5 percent in January 2023,” Professor Samuel Anim told the media on Wednesday.
Commenting on the specific activities, the Government Statistician stated that Mining & Quarrying, Manufacturing, Electricity & Gas, Construction among other recorded a PPI of 68.2%, 53.3%, 29.9% and 20.4% respectively.
