Producer prices in Ghana rose 8.8 percent year-on-year in July 2019, following a downwardly revised 7.1 percent rise in the previous month. This is the highest producer inflation since December of 2017. Prices advanced faster for mining & quarrying (27.6 percent vs 22.4 percent in June); utilities (6.9 percent vs 1.1 percent), mostly due to hikes in electricity and water tariffs with effect from July; and manufacturing (5.4 percent vs 5.3 percent). On a monthly basis, producer prices inched up 1.9 percent, after a 1.6 percent increase in the previous month. Producer Prices Change in Ghana averaged 14.69 percent from 2009 until 2019, reaching an all time high of 48.56 percent in August of 2014 and a record low of 2 percent in July of 2017.
Producer Prices Change in Ghana is expected to be 6.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Ghana to stand at 7.00 in 12 months time. In the long-term, the Ghana Producer Prices Change is projected to trend around 5.20 percent in 2020, according to our econometric models.