Ghana's Producer Price Inflation climbed to 4.8 percent in September 2026, up 0.4 percentage points from the previous month, even as the month-on-month figure cooled significantly to 1.3 percent from 2.5 percent in August, according to the Ghana Statistical Service.
Mining and Quarrying posted the highest index levels through the period, jumping from 360.5 to 380.4 after a rocky year that saw a strong early recovery, a sharp June dip, and a subsequent rebound.
Within the sector, Extraction of Crude Oil and Natural Gas recorded inflation of 18.35 percent, a standout figure against the rest of the sub-sectors.
Mining of Metal Ores told a different story entirely, slipping further into deflation from negative 0.4 percent in August to negative 2.3 percent in September. Mining Support Service Activities eased slightly too, down from 5.7 percent to 5.3 percent.
Manufacturing and Power Costs Climb
The Manufacturing Index rose from 258.7 to 270.5, though the picture inside the sector was uneven. Eight of the 23 major manufacturing groups came in above the sub-sector average of 4.6 percent.
Leather and related products topped the list at 15.8 percent, trailed closely by fabricated metal products at 14.3 percent. Non-metallic mineral products bucked the trend entirely, recording deflation of 1.1 percent.
Electricity, Gas, Steam and Air Conditioning Supply also pushed higher, with the index rising from 218.5 to 239.8. Electric Power Generation, Transmission and Distribution led that charge at 10.2 percent inflation, while gas manufacturing and distribution through mains moved in the opposite direction, recording deflation of 4.1 percent.
Water Supply, Sewerage, Waste Management and Remediation Activities held relatively steady, rising from 162.4 to 175.8 after a sharper increase earlier in January.
The Construction Producer Price Index came in at 4.7 percent for September, a slight uptick from 4.5 percent in August, reflecting the yearly rise in construction producer prices between September 2025 and September 2026.
Services producer prices grew more modestly, with the Services PPI at 1.4 percent. The Accommodation and Food Service sub-sector saw its index rise from 236.8 to 243.3 over the year, before easing back to 241.8 by August.
What GSS Wants Households and Businesses to Do
The Ghana Statistical Service used the data release to issue some practical advice. Households were urged to "prioritise essential expenditure and adjust spending plans in response to changes in prices," while also cutting avoidable costs through energy and water-saving habits around the home.
Businesses and investors got a different set of recommendations, centred on managing rising input costs and tightening operational efficiency.
GSS encouraged firms to review pricing carefully to protect margins without driving away customers, while also maintaining sufficient inventories of key inputs and diversifying suppliers to cushion against price swings and supply disruptions.
The PPI tracks the average change in prices received by domestic producers for their goods and services, offering an early signal of cost pressures that often filter through to consumer prices down the line.
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