This represent 1.1 percentage point decrease in producer inflation relative to the rate recorded in May, and the GSS said the producer inflation rate for June was provisional.

It said the monthly PPI rate for June stood at 0.6 per cent from -2.7 per cent in May.

The Producer Price Index measures the average change over time in the prices received by domestic producers to produce their goods and services.

Government Statistician, Professor Samuel K. Annim, who announced this in Accra on Wednesday, said producer inflation for mining fell to 31.3 per cent in June from 32.5 per cent in May, while the PPI rate for the construction sector fell marginally to 19.3 per cent in June from 20.0 per cent in May.

He said the PPI rate for the service sector also fell to 17.6 per cent in June from 18.1 per cent in May.

“Electricity and gas (70.6 per cent), transportation and storage (49.2) per cent, water supply, sewerage, and waste management (38.5 per cent), accommodation and food service activities (37.9 per cent), and mining and quarrying (31.0 per cent) recorded rates above the national average of 29.2 per cent,” Prof. Annim, stated.

He said information and communication activities recorded the lowest rate of 11.1 per cent in June 2023.