This was 0.2 percentage points higher than that of August 2025.

It was, however, 27.3 percentage points lower than the September 2024 producer inflation rate

According to the Ghana Statistical Service (gss), the producer price inflation on a month-on-month basis, the producer price inflation between August and September 2025 was 0.9%.

Thus, on average, prices received by producers for their goods and services increased by 0.9% in September, compared to August 2025.

Mining and Quarrying, the largest sector with a weight of 43.7%, recorded a 0.1 percentage point increase in inflation from 4.9% in August to 5.0% in September 2025.

Similarly, Manufacturing, which makes up 35% of the PPI weights, increased from 1.6% to 1.7%, gaining 0.1 percentage point.

Transport and storage prices continued to fall, declining by 8.2% in September 2025 compared to a price decline of 8.0% in August 2025.

The GSS recommended that businesses cut waste, boost efficiency, and reinvest savings in technology and skills.

It also urged businesses to turn inflation pressure into productivity gains.

It also advised that the government to target tax relief, fix energy and transport gaps, and strengthen local supply chains to make production cheaper and faster.

For households/consumers, it advised them to compare prices, buy smart, and favor sellers who pass savings to them.

“Spend with intention to stretch income and reward fair pricing”, it concluded.

Source: Joy Business

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This means that on average, the ex-factory price of goods and services increased by 3.0% between August 2024 and August 2025.

This is the lowest producer price inflation since November 2023 and the seventh consecutive month of decline.

Producer price inflation between July and August 2025 was 2.1%.

Mining and Quarrying, the largest sector with a weight of 43.7%, recorded a 0.3 percentage point increase in inflation from 4.6% in July to 4.9% in August.

Similarly, Manufacturing, which makes up 35% of the PPI, eased from 3.2% to 1.6%, shedding off 1.6 percentage points.

The decline in the producer inflation was mainly driven by the manufacturing sub-sector.

Accommodation and food service prices continued to fall, declining from -2.7% in July to -3.1% in August.

Recommendations

On its recommendations, the Ghana Statistical Service (GSS) urged businesses to take advantage of the lower inflation to cut costs, improve margins, and reinvest in productivity and technology. Also advised businesses to position their firms to withstand future shocks.

On the side government, the GSS asked policy makers to continue supporting industry through targeted tax reliefs, infrastructure investment, and policies that encourage domestic production and stronger value chains.

The GSS appealed to households to shop carefully, compare prices, and support businesses that pass on cost savings. Use this period to plan spending and build savings.

Source: Lawrence Segbefia 

The month-on-month change in the PPI between June 2024 and July 2024 was 3.7%.

The producer price inflation in the industry sector excluding the construction sector increased from 32.3% in June 2024 to 37.9% in July 2024.

The rate in the construction sector also increased to 30.5% in July 2024.

In the Services sector, the rate similarly went up to 12.6% in July 2024, from 12.1% in June 2024.

The Mining and Quarrying (48.8%), and Construction (30.5%) recorded inflation rates above the national average (29.1%), while Water Supply, Sewerage and Waste Management activity recorded the lowest rate of 2.6% in July 2024.

Industrial Producer Inflation

The Industrial producer price inflation in the Mining and Quarrying sub-sector increased to 48.8% in July 2024 compared to 45.6% in June 2024.

The manufacturing subsector increased by 5.5 percentage points to 17.9% in July 2024.

The electricity and gas subsector recorded an inflation rate of 11.8% in July 2024, an increase of 1.3 percentage points over the June rate of (10.5%).

The Water Supply, Sewerage, and Waste Management sub-sector recorded an inflation rate of 2.6%.

Manufacturing Sub-Sector

In July 2024, eight of the 23 major groups in the manufacturing sub-sector recorded inflation rates higher than the Sector’s average of 17.9%.

The manufacture of beverages recorded the highest inflation rate of 44.0%, followed by the manufacture of motor vehicles, trailers, and semitrailers at 38.2%.

Services Producer Inflation

The Service producer price inflation in the Transport and Storage sub-sector increased by 2.7 percentage points from 24.1% in June 2024 to 26.8% in July 2024.

The Accommodation and Food Services sub-sector rate increased by 0.5 percentage points from 27.8% in June 2024 to 28.3% in July 2024.

The Information and Communication sub-sector recorded an inflation rate of 9.3% for July 2024.

Construction Producer Inflation

The inflation in the construction of buildings subsector increased by 2.2 percentage points from 15.6% in June 2024 to 17.8% in July 2024.

The rate for the Civil engineering subsector increased by 0.2 percentage points from 36.7% in June 2024 to 36.9% in July 2024.

The Specialized construction activities subsector recorded an inflation of 14.7% in July 2024 compared with a June 2024 rate of 5.8%.

Source: Joy Business

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This is higher than the 15.3% recorded in March 2024.

The month-on-month Producer Price Inflation (PPI) or ex-factory prices was 4.1% in April 2024, higher than the 3.2% recorded in March 2024.

The producer price inflation in the industry sector excluding the construction sector increased to 20.2% in April 2024 from 18.8% in March 2024.

The rate in the construction sector decreased to 50.0% in April 2024.

In the Services sector, the rate increased from 7.6%in March 2024 to 9.4% in April 2024.

The Construction (50.0%), Mining and Quarrying (26.4%), Electricity and Gas (23.8%), and Accommodation and Food Services Activities (23.5%) recorded inflation rates above the national average (16.8%), while Water Supply, Sewerage and Waste Management activity recorded the lowest rate of 7.5% in April 2024.

Industry

For the Manufacturing Sub-Sector In April 2024, 10 of the 23 major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 7.6%.

The Manufacture of beverages recorded the highest inflation rate of 38.2%, followed by the Manufacture of wearing apparel at 37.7%.

Services

The Service producer price inflation in the Transport and Storage sub-sector increased by 3.0 percentage points over the March 2024 rate of 12.1% to 15.1% in April 2024.

The Accommodation and Food Services sub-sector rate increased by 2.6 percentage points to 23.5% in April 2024.

The Information and Communication sub-sector recorded an inflation rate of 7.7% for April 2024.

Construction

The inflation in the construction of buildings subsector increased by 0.1 percentage points over the March 2024 rate of 8.0% to 9.0% in April 2024.

The rate for the civil engineering sub-sector decreased by 11.9 percentage points to 74.0% in April 2024. The specialized construction activities sub-sector recorded a 5.5% inflation rate for April 2024 compared with 5.8% in March 2024.

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This is compared with 12.5% in February 2024.

Meanwhile, the month-on-month producer inflation rate was 4.3%.

According to the GSS, the Construction sector registered the highest year-on-year inflation of 56.5%, followed by Electricity and Gas (27.0%) and Mining and Quarrying (26.7%).

Water Supply, Sewerage, Waste (7.4%); Manufacturing (7.1%), and Information and Communication (6.2%) registered the lowest year-on-year inflation.

Electricity and gas recorded a 27% inflation rate for March 2024, an increase of 7.5 percentage points over the February rate of (19.5%)

11 sub-groups within the Manufacturing sub-sector recorded inflation rates above the sub-sector average.

They included the Manufacture of Motor Vehicles and Trailers (65.2%); the Manufacture of Beverages (38.4%) and the Manufacture of Wearing Apparel (24.0%).

For the Services sector, Air Transport recorded the highest year-on-year inflation of 30.5%. It was followed by Postal and Courier Activities (25.0%) and Programming and Broadcasting Activities (19.3%).  

Also, the Service producer price inflation in the Transport and Storage sub-sector increased by 0.9 percentage points over the February 2024 rate of 11.2% to 12.1% in March 2024.

The Accommodation and Food Services subsector rate increased by 5.5 percentage points to 20.9% in March 2024. The Information and Communication sub-sector recorded an inflation rate of 6.2 percent for March 2024.

Meanwhile, the producer price inflation in the industry sector excluding the construction sector increased to 20.7% in March 2024 from 11.8% in February 2024. The rate in the construction sector increased to 56.5% in March 2024.

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