PPI rate in February is 12.1%
Business
PPI
The Producer Price Inflation (PPI) rate for February 2024 was 12.1 percent.
This rate indicates that between February 2023 and February 2024 (year-on-year), the PPI increased by 12.1 percent, representing a 5.3 percentage point decrease in producer inflation relative to the rate recorded in January 2024 (17.4%).
The month-on-month change in the PPI between January 2024 and February 2024 was 2.2 percent
The producer price inflation in the industry sector excluding the construction sector decreased to 11.8 percent in February 2024 from 17.2 percent in January 2024.
The rate in the construction sector increased to 56.4 percent in February 2024 from 40.2 percent in January 2024.
In the Services sector, the rate decreased from 16.9 percent in January 2024 to 13.6 percent in February 2024.
The Construction (56.4%), Electricity and Gas (19.5%), Transportation and Storage (16.9%), Mining and Quarrying (16.3%), and Accommodation and Food Services (15.4%) recorded inflation rates above the national average, while Manufacturing activity recorded the lowest rate of 5.1 percent in February 2024.
Source: Classfmonline.com
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