• About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, February 1, 2023
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Producer Price Inflation Rate Was 21.4% In February 2022

March 16, 2022
Stephen KotochiebyStephen Kotochie
in Economy
0
Producer Price Inflation Rate Was 21.4% In February 2022

Producer Price Inflation (PPI) rate, a measure of the ex-factory prices of goods and services in the country, rose to 21.4 percent in February 2022 on a year-on-year basis. This rate represents a 4.6 percentage point increase in producer inflation relative to the rate of 16.8 percent recorded in January 2022.

The revised producer price index of 873.2 for January 2022 was lower than the provisional index of 907.1 recorded in February 2022. This resulted in a month-on-month change in producer price index between January 2022 and February 2022 of 3.9 percent. The rate is lower than the 5.1 percent recorded between December 2021 and January 2022.

PPI for the various sub-sectors

Notably, the Ghana Statistical Service (GSS) provided information on inflation rates for all industry and its three major sub-sectors for the last twelve months. The major sub-sectors include Mining and Quarrying, Manufacturing and Utilities.

RelatedPosts

DDEP: Deadline Further Extended To Tuesday, February 7th, 2023

Economist Advises Government to Stop Depending on Monetary Policy Rate Alone to Fight Inflation

IMF’s Conditionality Likely To Affect The Execution Of Government’s Flagship Projects

The producer price inflation in the Mining and Quarrying sub-sector increased by 11.6 percentage points over the January 2022 rate of 2.2 percent to record 13.8 percent in February 2022. The utility sub-sector recorded 0.5 percent inflation rate in February 2022.

PPI FEB

The producer inflation for the Manufacturing sub-sector, which constitutes more than two-thirds of the total industry, increased by 4.0 percentage points to record 28.8 percent in February 2022.  In February 2022, two out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 28.8 percent.

Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 44.3 percent, while the Publishing, printing and reproduction of recorded media experienced the least inflation rate of 2.6 percent.

Manufacture of other non-metallic mineral product, another division of the manufacturing sub-sector, recorded an annual inflation rate of 18.0 percent in February 2022, as compared to 16.9 percent in January 2022. Manufacture of food products and beverages also experienced a rise in its annual inflation rate which rose to 37.8 percent in February 2022, relative to 35.4 percent in January 2022. Inflation rate in the Electricity and Water Supply division rose to 0.5 percent in February 2022, as compared to 0.2 percent in January 2022.

Trends in producer price inflation

In February 2021, the producer price inflation rate for all industry was 10.3 percent. The rate however, increased to record 13.0 percent in March 2021, but declined to 10.9 percent in April 2021. In May 2021, the rate increased to 11.8 percent but decreased continuously to record 8.1 percent in August 2021. Subsequently, the rate increased continuously to record 21.4 percent in February 2022.

Petroleum Price Index

The producer inflation rate in the petroleum sub-sector was 13.7 percent in February 2021. The rate increased to peak at 31.0 percent in March 2021 but tumbled to record 25.3 percent in August 2021. Subsequently, it increased continuously to record 58.4 percent in November 2021, but dropped to 35.0 percent in January 2022. In February 2022, the rate increased to 44.3 percent.

2 19 image

The Ghana Statistical Service provides the annual (year-on-year) and monthly producer inflation rates for all industry and three major sub-sectors of industry (Mining and Quarrying, Manufacturing and Utilities) for the last twelve months. The Service however, cautioned that the figures for the month of February 2022 are provisional, and are subject to revision when additional data become available but all other indicators are final.

READ ALSO: Taskforce Reviewing COVID-19 Guidelines- Dr. Asiedu- Bekoe

Tags: February 2022GSSInflation RatemanufacturingMining and Quarrying

Related Posts

DDEP: Deadline Further Extended To Tuesday, February 7th, 2023
Economy

DDEP: Deadline Further Extended To Tuesday, February 7th, 2023

February 1, 2023
Commercial High Court Orders Bank of Ghana to Produce Bank Statement of Capital Bank
Economy

Economist Advises Government to Stop Depending on Monetary Policy Rate Alone to Fight Inflation

January 31, 2023
IMF’s Conditionality Likely To Affect The Execution Of Government’s Flagship Projects
Economy

IMF’s Conditionality Likely To Affect The Execution Of Government’s Flagship Projects

February 1, 2023
DDEP: Finance Minister To Announce Revised DDE For IBHAG Today, Monday, January 30, 2023
Economy

DDEP: Finance Minister To Announce Revised DDE For IBHAG Today, Monday, January 30, 2023

January 30, 2023
IEA Urges Government To Moderate Expenditures To Create Fiscal Space For The Economy
Economy

IEA Urges Government To Moderate Expenditures To Create Fiscal Space For The Economy

January 26, 2023
DDEP: Government To Hold Its Final Consultation With Stakeholders
Economy

DDEP: Government To Hold Its Final Consultation With Stakeholders

January 26, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous Post

Nigeria’s Vehicle Sales Growth to Remain Subdued in the Wake of Higher Oil Prices

Next Post

Baba Yara Stadium To Host Ghana Vs. Nigeria World Cup Play-Off First Leg Match

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.
Afia Schwarzenegger Can’t Be Quiet For Two Years – Nana Tornado Mocks
Entertainment

Afia Schwarzenegger Can’t Be Quiet For Two Years – Nana Tornado Mocks

by Esther Korantemaa OffeiFebruary 1, 2023
Civil Society Organisations Urged To Intensify Nationwide Community Awareness On HIV And AIDS.
General News

Civil Society Organisations Urged To Intensify Nationwide Community Awareness On HIV And AIDS.

by Emmanuel SarpongFebruary 1, 2023
You Don’t Want to Contribute to Ghana’s Growth- Finance Minister Fires State Entities
Vaultz Business

SIGA Projects 25% Contribution to GDP by SOEs in 2023

by Stephen M.CFebruary 1, 2023
Banks Collaborative Effort With Fintech Will Bring Optimism In The Financial Sector- GhIPSS, GAB
Finance

Banks Collaborative Effort With Fintech Will Bring Optimism In The Financial Sector- GhIPSS, GAB

by Gifty BansahFebruary 1, 2023
Chiefs Of Nkusum Traditional Area Revoke Title Given To Davis Iyalla As Amankorahen Of Yamoransa
General News

Chiefs Of Nkusum Traditional Area Revoke Title Given To Davis Iyalla As Amankorahen Of Yamoransa

by Emmanuel SarpongFebruary 1, 2023
Myanmar’s Military Is Increasing Airstrikes – Rights Group
Asia

Myanmar’s Military Is Increasing Airstrikes – Rights Group

by Comfort AmpomaaFebruary 1, 2023
Afia Schwarzenegger Can’t Be Quiet For Two Years – Nana Tornado Mocks
Civil Society Organisations Urged To Intensify Nationwide Community Awareness On HIV And AIDS.
You Don’t Want to Contribute to Ghana’s Growth- Finance Minister Fires State Entities
Banks Collaborative Effort With Fintech Will Bring Optimism In The Financial Sector- GhIPSS, GAB
Chiefs Of Nkusum Traditional Area Revoke Title Given To Davis Iyalla As Amankorahen Of Yamoransa
Myanmar’s Military Is Increasing Airstrikes – Rights Group
Snow
FIND OUT MORE

The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In