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    HomeBusinessInflation drops to 43.7% in March 2023

    Inflation drops to 43.7% in March 2023

    The Producer Price Inflation (PPI), which measures the average change over time in the prices received by domestic producers to produce their goods and services, fell to 43.7% in March 2023, from 50.8% in February 2023.

    The month-on-month change in the PPI between February 2023 and March 2023 sharply dropped to 1.7%.

    According to figures from the Ghana Statistical Service, the producer price inflation in the Industry less (minus) Construction sector decreased to 43.4% in March 2023, from 50.8% in February 2023.

    Also, the rate in the construction sector decreased to 18.8% in March 2023 from 21.1% in February 2023.

    In the Services sector, the rate increased from 13.4%in February 2023 to 18.0% in March 2023.

    Transportation and Storage (59.3%), Accommodation and Food Service Activities (47.0%), Mining and Quarrying (40.4%), Electricity and Gas (57.5%), and Manufacturing (46.0%) recorded rates above the national average.

    However, Information and Communication Activity recorded the lowest rate of 11.3% in March 2023.

    Source: Ghana/Sompaonline.com

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