Producer price inflation rate for March is 16.5%
The producer price inflation rate in March 2024 is 16.5%
This rate indicates that between March 2023 and March 2024 (year-on-year), the PPI increased by 16.5 per cent, representing a 4.4 percentage point increase in producer inflation relative to the rate recorded in February 2024 (12.1%).
The month-on-month change in the PPI between February 2024 and March 2024 was 4.3 per cent.
The PPI measures the average change over time in the prices received by domestic producers to produce their goods and services.
The producer price inflation in the industry sector, excluding the construction sector, increased to 20.7 per cent in March 2024 from 11.8 per cent in February 2024.
The rate in the construction sector increased to 56.5 per cent in March 2024.
In the services sector, the rate decreased from 13.6 per cent in February 2024 to 7.6 per cent in March 2024.
The Construction (56.5%), Electricity and Gas (27.0%), Mining and Quarrying (26.7%), and Accommodation and Food Services Activities (20.9%) recorded inflation rates above the national average (16.5%), while Information and Communication activity recorded the lowest rate of 6.2 per cent in March 2024.
Source: classfmonline.com
Trending Business
Newmont appoints mining industry veteran Francois Hardy as CTO
10:32IMF ‘more confident’ of taking Ghana prog. to Board in June
10:04'Only a miracle can save cedi' – Forex Bureaux Association says, 'We're not doing things right'
09:36Gov’t ready for Chinese investment in optimising green mineral dev’t – Lands Minister
16:36Debt Restructuring: Government to reach agreement with IPPs in May
08:3022% of LPG price is all taxes – LPG Marketers Assoc.
10:43NPA vows to ease LPG traders’ financial burdens amid industry turbulence
10:17Petroleum prices expected to stabilise in May amidst global market fluctuations
10:15Cedi keeps falling; depreciates by 13.35% so far
10:04$4 trillion is new annual financial target to save SDGs - Adesina
08:45