Producer Price Inflation rises to 4.4% in August 2026

Ghana's Producer Price Inflation, a measure of the change in prices received by producers compared to the same month last year, surged to 4.4% in August 2026 from 4.0% in July 2026. The Ghana Statistical Service reported this increase, primarily driven by the mining and quarrying sector, which contributed 43.7% to the overall PPI basket.

This sector's inflation rate rose from 3.5% in July to 4.9% in August, adding 2.1 percentage points to the overall producer inflation rate. Within the mining and quarrying sector, crude oil and natural gas prices saw a sharp rise of 12.9% in August, while electricity and gas prices remained a significant source of pressure, with a 12.3% increase.

The industry, excluding construction, experienced the strongest broad-sector increase, with a year-on-year inflation rate of 6.3% in August, up from 5.6% in July. However, the construction sector saw a moderation in inflation, falling to 4.5% as prices dropped by 0.2% in August. Services inflation also slowed to 1.8% from a 0.3% decline in prices over the month.

Manufacturing inflation remained relatively contained at 3.6%, though significant variations across subsectors were noted. Leather and related products recorded a high inflation rate of 17.4%, while non-metallic mineral products experienced a slight deflation of 2.4%. Dr. Alhassan Iddrisu, the Government Statistician, advised policymakers to closely monitor mining, energy, and other emerging cost pressures, urging businesses to focus on cost control, productivity, and supply chain management.

Consumers were advised to remain price conscious as sustained increases in producer costs could eventually affect market prices. Despite the overall moderate level of producer inflation, renewed monthly price pressures, particularly in mining and energy, warrant further monitoring.