Ghana’s Producer Price Inflation (PPI) for the month of November is 9.9% an increase of 1% from October’s rate of 8.9%. The PPI level for November nearly equals the figure for September which was 9.7%.
The Producer Price Inflation in Ghana measures the average change in price of goods and services sold by manufacturers and producers in the wholesale market within a given period. It is a lead indicator of the Consumer Price Index (CPI) which is the rate of inflation at the consumption level.
This rate of 1% indicates that between November 2018 and November 2019 (year-on-year), the PPI increased by 9.9 percent from 8.9% However, the PPI indicator increased by 0.3% from October to November which is the month in question.
From the Ghana Statistical Services (GSS) report, eight (8) out of the sixteen (16) major groups in manufacturing had their inflation higher than the national average of 4.5%. The petroleum index also contributed to the increment. These could be reasons why figure for November went higher up again.
With this trend, the inflation rate is likely to increase for the month of December 2019 or January 2020.