Building inflation increases to 5.1% in September 2026, but cement inflation stood at -6.1%

In September 2026, the year-on-year inflation rate for the Prime Building Cost Index (PBCI) rose to 5.1%, an increase from 4.6% in August 2026. However, the monthly change rate for September 2026 was a slight 0.03%. Ghana's Statistical Service reported that building inflation remained relatively low despite a September increase.

The primary drivers of the September inflation were rising plant and equipment costs, which climbed by 19.1% year-on-year. Group-wise, the Labour group saw a year-on-year inflation rate drop to -3.2% in September 2026 from -2.9% in August 2026. The Material group recorded a 6.5% year-on-year increase, up from 5.8% in August, while the Plant group saw a substantial 19.1% rise, up from 17.9% the previous month.

At the sub-group level, Reinforcement had the highest inflation rate at 29.0%, while Steel had the lowest at -8.8%. Notably, 14 out of the 23 sub-groups posted inflation rates above the national average of 5.1%. Over the year, the overall inflation had halved but accelerated since March 2026. For households, the cost of structural inputs had decreased compared to a year ago, with cement inflation at -6.1% and steel at -8.8%.

Nevertheless, inputs for finishing and installation, such as plumbing (+27.5%), glazing (+20.6%), and tiles (+9.2%), saw increased costs. The overall building costs in September 2026 were 5.1% higher than in September 2025.