The Ghana Statistical Service (GSS) reported on August 21, 2024, that Ghana’s Producer Price Index (PPI) rose to 29.1% in July 2024, marking a 3.5 percentage point increase from June 2024.
The month-on-month change in the PPI between June and July 2024 was 3.7%.
The Mining and Quarrying sector recorded the highest inflation rate at 48.8%, a significant increase from 45.6% in June.
The Construction sector also saw a rise, with inflation climbing to 30.5% in July from 26.1% the previous month.
In contrast, the Water Supply, Sewerage, and Waste Management sector posted the lowest July inflation rate of 2.6%.
Excluding the Construction sector, industrial sector inflation increased to 37.9%, up from 32.3% in June.
The Services sector also experienced inflationary pressure, with rates rising to 12.6% in July, up from 12.1% in June.
Transport and Storage saw the most significant increase within the Services sector, with inflation reaching 26.8%, up from 24.1% the previous month.
Accommodation and Food Services slightly rose to 28.3% from 27.8% in June.
In the Manufacturing sub-sector, inflation increased by 5.5 percentage points to 17.9% in July.
The manufacture of beverages recorded the highest inflation rate at 44.0%, followed by motor vehicles, trailers, and semitrailers at 38.2%.
In Construction, building inflation rose to 17.8% in July from 15.6% in June, while civil engineering inflation increased marginally to 36.9% from 36.7%.
The Specialized Construction Activities sub-sector saw a substantial rise to 14.7%, up from 5.8% in June.
The data underscores ongoing inflationary pressures across various sectors, significantly impacting mining, Construction, and manufacturing.
