Mining, manufacturing pushes producer inflation to 4.8%

Ghana's producer inflation climbed to 4.8 percent in September 2026, climbing from 4.4 percent in August, according to the Ghana Statistical Service. The rise was primarily due to increased prices in the mining and manufacturing sectors. The September figure surpassed the 3.2 percent noted a year ago, although monthly producer inflation decelerated to 1.3 percent from 2.5 percent in August.

Industrial production, excluding construction, saw the highest annual producer inflation rate at 7.2 percent, up from 6.3 percent in August. Construction inflation increased to 4.7 percent from 4.5 percent, while services inflation decelerated to 1.4 percent from 1.8 percent.

Mining and quarrying continued to be the principal driver of producer inflation, with a rate of 5.5 percent, accounting for nearly half of the overall increase. Producer prices in crude oil and natural gas extraction surged by 18.3 percent during the period. Mining support service activities experienced inflation of 5.3 percent, while other mining and quarrying activities declined by 2.8 percent. Metal ore mining fell by 2.3 percent.

Manufacturing inflation rose to 4.6 percent in September from 3.6 percent in August and 1.7 percent a year earlier. The sectors with the greatest price hikes included leather and related items, fabricated metal products, furniture, machinery, and basic metals. Electricity and gas inflation eased to 9.8 percent from 12.3 percent in August, while water supply and waste management slowed to 8.3 percent from 10.1 percent.

In the construction sector, building construction accounted for seven percent, specialized construction activities at 4.8 percent, and civil engineering at 3.7 percent.

Dr Alhassan Iddrisu, Government Statistician, emphasized that producer prices remain a crucial indicator of cost pressures within the economy. He noted that the index gauges price changes at the factory gate before goods and services reach consumers. "Businesses can utilize these data to plan costs and prices. Households can use them to plan budgets," he stated.

Dr Iddrisu warned that rising production costs could eventually impact consumer prices and urged businesses to employ the data for pricing and cost management decisions, while policymakers monitor emerging pressures in sectors like mining, manufacturing, and energy. The September PPI was based on price information gathered from 603 establishments covering 2,639 products nationwide.