The Producer Price Inflation (PPI) rate for July 2023 was 32.7 percent.
The rate indicates that between July 2022 and July 2023 (year-on-year), the PPI increased by 32.7 per cent.
The rate represents a 3.5 percentage point increase in producer inflation relative to the rate of 29.2 per cent recorded in June 2023.
The month-on-month change in the PPI between June 2023 and July 2023 was 0.8 percent.
The producer price inflation in the construction sector increased to 35.7 percent in July 2023 from 31.3 per cent in June 2023.
The rate in the construction sector decreased to 18.5 per cent in July 2023 from 19.3 per cent in June 2023.
In the services sector, the rate decreased from 17.6 per cent in June 2023 to 17.0 per cent in July 2023.
Electricity and gas recorded 69.6 per cent with transportation and storage having 46.0 per cent, while water supply, sewerage, and waste management recorded 38.5 per cent.
The Mining and quarrying sectors recorded 38.9 per cent with Accommodation and food service activities having 35.0 per cent recorded rates above the national average coupled with Information and Communication activity recording the lowest rate of 11.1 per cent in July 2023.
Source: GNA
