The producer inflation rose to 4.8 percent in September 2026, up from 4.4 percent in August, driven largely by increases in producer prices in the industrial and manufacturing sectors.
The latest Producer Price Index (PPI) newsletter released by the Ghana Statistical Service (GSS) shows that year-on-year producer inflation increased by 0.4 percentage points, which reflects changes in the prices received by domestic producers for their goods and services.
The industrial sector, excluding construction, recorded the highest year-on-year inflation rate of 7.2 percent, up from 6.3 percent in August. Producer prices in the sector also rose by 1.8 percent between August and September.
Mining and quarrying recorded an annual inflation rate of 5.5 percent, up from 4.9 percent in August, while manufacturing inflation increased to 4.6 percent from 3.6 percent.
Electricity and gas inflation, however, declined from 12.3 percent to 9.8 percent, while inflation in water supply, sewerage and waste management fell from 10.1 percent to 8.3 percent.
The construction sector recorded producer inflation of 4.7 percent in September, compared with 4.5 percent in August. On a month-on-month basis, prices in the sector increased by 0.4 percent.
Within construction, building-related producer prices recorded an annual inflation rate of 7.0 percent, while civil engineering recorded 3.7 percent. Specialised construction activities registered inflation of 4.8 percent.
The services sector recorded the lowest annual producer inflation rate of 1.4 percent, although this was accompanied by a 0.3 percent increase in prices between August and September.
Transport and storage recorded annual inflation of 5.8 percent, while accommodation and food services registered 2.7 percent. Information and communication recorded the lowest rate among the services sub-sectors at 0.4 percent.
A breakdown of manufacturing prices showed that the manufacture of leather and related products recorded the highest annual inflation rate at 15.8 percent, followed by fabricated metal products, excluding machinery and equipment, at 14.3 percent.
The manufacture of machinery and equipment recorded inflation of 9.0 percent, while basic metals registered 7.0 percent and food products 6.6 percent.
In contrast, the manufacture of other non-metallic mineral products recorded deflation of 1.1 percent.
The report also identified crude oil and natural gas extraction as a major source of price pressure within mining, with inflation reaching 18.3 percent in September. Mining of metal ores, however, recorded deflation of 2.3 percent.
Despite the increase in annual producer inflation, the monthly rate slowed considerably. The overall PPI rose by 1.3 percent between August and September, compared with 2.5 percent between July and August.
Mining and quarrying recorded a monthly inflation rate of 2.0 per cent, while manufacturing registered 1.1 percent. Transport and storage recorded 1.5 percent, reversing the deflation of 1.3 percent recorded in August.
The Producer Price Index measures changes over time in the prices received by domestic producers and covers industry excluding construction, construction and services.
According to the Ghana Statistical Service, the September 2026 figures are provisional and may be revised as additional data become available.
By Ernest Kofi Adu
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