Average building cost increases by 5.1% in September 2026 -GSS
The year-on-year inflation rate measured by the Prime Building Cost Index (PBCI) has increased to 5.1 percent in September 2026 from 4.6 percent in August 2026 By this, building costs were 5.1% higher than a year ago and 0.03% higher than in August 2026. Plant and equipment costs went up 19.1% over the year, […]
In September 2026, the average building cost in Ghana saw a 5.1% increase, according to the Prime Building Cost Index (PBCI) released by the Ghana Statistical Service. This marked an uptick from the 4.6% increase in August 2026. The rise was primarily driven by a 19.1% surge in plant and equipment costs, which became the dominant cost factor.
The Labour group inflation rate dipped to -3.2% in September 2026, a decline from -2.9% in the previous month. Conversely, the Material group recorded a year-on-year inflation rate of 6.5%, up from 5.8% in August 2026. Meanwhile, the Plant group saw a significant 19.1% increase, from 17.9% in August 2026.
Sub-group-wise, Reinforcement materials had the highest inflation rate at 29.0%, while Steel materials experienced the lowest at -8.8%. Notably, 14 out of the 23 sub-groups recorded inflation rates above the national average of 5.1%. The PBCI, which tracks the prices of construction inputs like materials, labor, and equipment against a 2023 base year set at 100, serves as a crucial tool for stakeholders in the construction sector, including investors, developers, contractors, and policymakers, to negotiate contracts, adjust bids, and monitor inflation trends.
Written by urgent.news from Joy Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
