Ghana’s industrial PPI drops to 43% in September 2024, signaling possible production costs moderation

The Industrial Producer Price inflation (I-PPI) rate in Ghana recorded a slight decline in September 2024, easing from 44.6 percent in August to 43.0 percent.

This represents a 1.6 percentage point decrease year-on-year.The mining and quarrying sub-sector experienced the most significant drop in inflation, falling to 48.7 percent in September from 54.2 percent in August.The manufacturing sub-sector also saw a modest decline, decreasing to 21.8 percent from 22.9 percent.

Within the manufacturing sub-sector, four major groups recorded inflation rates higher than the sector's average.

The manufacture of basic metals led with a 52.0 percent inflation rate, followed by the manufacture of beverages at 44.5 percent.However, the electricity and gas sub-sector recorded a more moderate decrease, dropping to 10.4 percent in September from 12.4 percent in August.