Ghana's Producer Price Inflation (PPI) dropped to 26.9% in November 2024, according to recent data from the Ghana Statistical Service (GSS).

This marks a 6.1 percentage point decrease from October 2024, reflecting a slowdown in the rate of price increases at the production level.

The month-on-month change between October and November 2024 also showed a decline of 1.9%, further indicating a reduction in inflationary pressures at the production stage.

This drop in PPI points to an easing of cost increases across various sectors.

The industrial sector, excluding construction, saw a significant reduction in producer inflation, which fell from 48.9% in October to 41.3% in November.

This drop is a positive development, especially for manufacturing and industrial producers, as it signals a slowdown in rising production costs.

Similarly, the construction sector experienced a decline in its producer inflation rate, decreasing from 34.5% in October to 31.1% in November.

Despite this decrease, the construction sector’s inflation rate remains above the national average, highlighting the continued challenges the sector faces.

In the services sector, producer inflation stood at 12.5% in November, reflecting a more moderate increase in prices.

Meanwhile, the mining and quarrying sector recorded a producer inflation rate of 41.9%, and accommodation and food services saw a rate of 32.5%.

The transportation and storage sector also experienced inflation of 31.7%.

The water supply, sewerage, and waste management sector had the lowest producer inflation rate, with a modest 5.0% in November 2024.