The Purchasing Manager Index (PMI) of Stanbic IBTC Bank Plc for the month of April 2025 has shown that the manufacturing sector witnessed the strongest inflationary pressures during the month under review.
According to the report, “The pace of overall input cost inflation was sharp in April and ticked up from that seen in March, but remained weaker than seen on average during 2024. Steep increases in overall input prices were seen across all four monitored sectors, with the strongest inflation in manufacturing.”
It added: “Higher raw material costs, exacerbated by currency weakness, meant that purchase prices increased markedly again at the start of the second quarter of the year. Around 36 per cent of respondents posted a rise in purchase prices during the month, as the pace of inflation ticked up from March.”
The report also said that April data pointed to a further solid rise in staff costs, “with the pace of inflation little-changed from the previous survey period. Higher living costs, efforts to motivate staff and wage increases in order to keep hold of workers all contributed to the latest rise in labour expenses, according to respondents.”
