Ghana’s Industrial Producer Price Inflation (I-PPI) rate experienced a slight decline in September 2024, decreasing from 44.6 percent in August to 43.0 percent.
This represents a year-on-year drop of 1.6 percentage points.
The most significant reduction was observed in the mining and quarrying sub-sector, where inflation fell from 54.2 percent in August to 48.7 percent in September.
The manufacturing sub-sector also saw a modest decline, with inflation decreasing from 22.9 percent to 21.8 percent.
Notably, within manufacturing, the production of basic metals led with an inflation rate of 52.0 percent, followed closely by beverages at 44.5 percent.
In contrast, the electricity and gas sub-sector experienced a more moderate decrease, with inflation dropping from 12.4 percent in August to 10.4 percent in September.
The water supply, sewerage, and waste management sector remained relatively stable at an inflation rate of 4.0 percent.
However, the waste collection, treatment, and disposal activities sector noted a significant increase in inflation, rising to 6.8 percent from 2.9 percent in August.
The overall decrease in industrial producer inflation may indicate a moderation in production costs, which could have positive implications for both businesses and consumers.
Nevertheless, the fluctuating inflation rates across different sectors highlight the importance of ongoing monitoring and strategic planning in the current economic landscape.
