Ghana Producer Prices Change

Producer prices in Ghana climbed 10.2 percent year-on-year in August 2019, after rising 8.8 percent in the previous month. It was the highest producer inflation since November 2016, pushed up by prices of mining & quarrying (36.5 percent vs 27.6 percent in July); utilities (6.9 percent, the same pace as in July) and manufacturing (5.8 percent vs 5.4 percent), mostly in production of machinery & equipment (24.7 percent) and other non-metallic products (12.4 percent). On a monthly basis, producer prices went up 1.2 percent, easing from a 1.9 percent rise in the preceding month.

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 in Ghana increased 6.70 percent year-on-year in May 2019, easing from a 7.1 percent rise in the prior month, in part attributable to the stability of the Cedi. Prices slowed for manufacturing (6.2 percent vs 7.5 percent in April), mostly in production of coke, refined petroleum products (9.9 percent vs 17.2 percent) and textiles (6.3 percent vs 7.1 percent). Meanwhile, cost rose further for mining & quarrying (15.1 percent vs 12.3 percent) and utilities (1.1 percent vs 1 percent). On a monthly basis, producer prices went up 0.2 percent, easing from a 0.9 percent rise in the previous month.

Producer prices in Ghana surged 7.1 percent year-on-year in April of 2019, the same pace as in the previous month. The increase in the PPI rate mainly reflected the improvement in gold prices on the international market and strong performance of Cedi. Prices continued to advance for manufacturing (7.5 percent vs 6.8 percent in March), mostly in production of coke, refined petroleum products (17.2 percent vs 13 percent); chemicals (4.6 percent vs 1.3 percent) and rubber & plastics (3.7 percent vs 3.1 percent). Meanwhile, cost slowed for mining & quarrying (12.3 percent vs 15.9 percent) and utilities (1.0 percent vs 0.8 percent). On a monthly basis, producer prices increased 0.9 percent, after an upwardly revised 1.3 percent rise in the previous month.

Producer prices in Ghana surged 6.7 percent year-on-year in March of 2019, up from a 5.4 percent rise in the previous month. It is the highest producer inflation since October last year. Prices continued to increase in all categories: mining & quarrying (15.9 percent vs 13.3 percent in February); manufacturing (6.1 percent vs 5.0 percent), mostly coke, refined petroleum products (13 percent vs 8.9 percent); other non-metallic mineral products (2.8 percent vs 2.7 percent) and basic metals (17 percent vs 16.1 percent); and utilities (0.8 percent vs 0.1 percent), mainly due to electricity (0.9 percent vs 0.1 percent). On a monthly basis, producer prices went up 0.9 percent, following a 2 percent rise in the previous month.

Producer prices in Ghana rose 5.4 percent year-on-year in February of 2019, up from a 3.4 percent increase in the prior month. It is the strongest increase in producer prices since November, linked to a weaker cedi and higher fuel cost. Prices advanced faster in all categories: mining & quarrying (13.4 percent vs 8.9 percent in January); manufacturing (5 percent vs 3 percent), led by basic metals (16.1 percent) and utilities (0.1 percent, after being flat in January). On a monthly basis, producer prices inched up 2 percent, following a 0.3 percent gain in January, mainly pushed up by manufacturing (1.9 percent vs -0.7 percent) and mining & quarrying (4.7 percent vs 4.6 percent).