Producer price inflation increases to 4.8% in September 2026

Producer Price Inflation (PPI) rose to 4.8% in September 2026, up 0.4 percentage points. Month-on-month PPI stood at 1.3%, down from 2.5% in August 2026. According to the Ghana Statistical Service, Mining and Quarrying recorded the highest index levels throughout the period, rising from 360.5 to 380.4.

It recovered strongly in early 2026, fell sharply in June, and subsequently rebounded. The Extraction of Crude Oil and Natural Gas sub-sector recorded an inflation rate of 18.35. Meanwhile, inflation in the Mining of Metal Ores sub-sector fell by 1.9 percentage points, from -0.4% in August 2026 to -2.3% in September 2026.

Mining Support Service Activities recorded an inflation rate of 5.3% in September 2026, down from 5.7% in August 2026. The Manufacturing Index also increased from 258.7 to 270.5, with moderate fluctuations. Eight out of the 23 major groups within the Manufacturing sub-sector recorded inflation rates above the sub-sector average of 4.6%.

The Manufacture of leather and related products recorded the highest inflation rate at 15.8%, followed by the Manufacture of fabricated metal products, except machinery and equipment at 14.3%. In contrast, the Manufacture of other non-metallic mineral products recorded deflation of 1.1 percent. Again, the Electricity, Gas, Steam and Air Conditioning Supply Index rose from 218.5 to 239.8.

Electric Power Generation, Transmission, and Distribution recorded the highest inflation rate among the groups at 10.2%. This was followed by Manufacture of Gas and Distribution of Gaseous Fuels through mains, which recorded a deflation of 4.1%. The Water Supply, Sewerage, Waste Management and Remediation Activities Index increased from 162.4 to 175.8, remaining broadly stable after a marked rise in January 2026.

The Construction Producer Price Index (C-PPI) also recorded an inflation rate of 4.7% in September 2026. This indicates that construction producer prices increased by 4.7% between September 2025 and September 2026. This represented an increase of 0.2 percentage points from the 4.5% recorded in August 2026.