Ghana's Producer Inflation Increases to 4.8% in September 2026

Ghana's producer inflation increased to 4.8% in September 2026, up from 4.4% in August, largely due to rising prices in the mining and manufacturing sectors. This September figure is a notable increase from the 3.2% recorded in the same month last year. The Ghana Statistical Service presented these figures during a virtual session detailing the latest Producer Price Index (PPI).

The data revealed that the industrial sector, excluding construction, experienced the highest annual producer inflation rate among major sectors, reaching 7.2%, up from 6.3% in August. Meanwhile, construction inflation saw a slight increase to 4.7% from 4.5%, while inflation in the services sector slowed to 1.4%, down from 1.8%.

Mining and quarrying emerged as the largest contributors to producer inflation, recording a rate of 5.5%, which accounted for nearly half of the overall increase. Notably, producer prices in crude oil and natural gas extraction surged by 18.3% during this period. Mining support service activities also saw inflation at 5.3%, while other mining and quarrying activities experienced a decline of 2.8%. Metal ore mining faced a decrease of 2.3%.

In the manufacturing sector, inflation rose to 4.6% in September, up from 3.6% in August and significantly higher than the 1.7% recorded a year prior. Mining and manufacturing activities together accounted for over 80% of the total producer inflation.

Within the manufacturing sector, the most significant price increases were observed in leather and related products, fabricated metal products, furniture, machinery and equipment, and basic metals. Conversely, inflation in electricity and gas decreased to 9.8% from 12.3% in August, while water supply and waste management inflation slowed to 8.3% from 10.1%.

Inflation Trends in Construction and Services Drive Economic Insights

The construction sector's inflation was primarily driven by building construction, which reached 7%, followed by specialized construction activities at 4.8% and civil engineering at 3.7%. In the services sector, transport and storage prices rose by 5.8%, reflecting increased cost pressures in transport-related activities.

Dr. Alhassan Iddrisu, the Government Statistician, emphasized the importance of producer prices as indicators of cost pressures within the economy. He noted that the index measures price changes at the factory gate before goods and services reach consumers. Businesses can utilize this data for cost and pricing strategies, while households can plan their budgets accordingly.

Monitoring Production Costs for Future Consumer Price Impacts

Dr. Iddrisu warned that rising production costs could eventually translate into higher consumer prices, necessitating close monitoring. He encouraged businesses to leverage this data for effective pricing and cost management decisions, while policymakers should track emerging pressures in sectors such as mining, manufacturing, and energy.

The September PPI was based on price information collected from 603 establishments covering 2,639 products nationwide.