Ghana’s producer price inflation rose to 4.4 percent year-on-year in August 2026, up from 4.0 percent in July, driven largely by rising costs in the crude oil, natural gas and energy sectors.
Data from the Ghana Statistical Service (GSS) showed that month-on-month producer inflation also increased to 2.5 percent in August, from 2.0 percent in July, signalling growing production cost pressures that could eventually feed into consumer prices.
Mining, Oil Drive Increase
Industry, excluding construction, recorded the sharpest acceleration, with inflation rising to 6.3 percent from 5.6 percent in July.
Mining and quarrying accounted for 43.7 percent of the overall increase in the Producer Price Index (PPI). Crude oil and natural gas extraction recorded year-on-year inflation of 12.9 percent, while mining support services rose by 5.7 percent and other mining activities increased by 5.6 percent.
Mining of metal ores was the only subsector to record a decline, falling by 0.4 percent.
Electricity and gas remained the fastest-rising productive activity, recording inflation of 12.3 percent, although this was slightly lower than the 13.3 percent recorded in July.
Construction, Services Ease
Construction sector inflation eased to 4.5 percent from 4.8 percent, while services recorded the lowest inflation rate, slowing to 1.8 percent from 2.5 percent.
Manufacturing inflation averaged 3.6 percent, although cost pressures varied significantly across subsectors.
Leather products recorded the highest inflation at 17.4 percent, followed by fabricated metal products at 16.4 percent, furniture at 8.5 percent, food products at 8.4 percent and beverages at 7.1 percent.
Motor vehicles and non-metallic mineral products, however, recorded deflation of 2.4 percent and 0.3 percent, respectively.
Within the services sector, motion picture, video and music production recorded inflation of 87.9 percent. Land transport recorded 9.3 percent, air transport 7.8 percent and accommodation 7.5 percent.
Information and communication inflation remained relatively low at 0.6 percent, while telecommunications recorded zero inflation.
GSS Flags Emerging Cost Pressures
Government Statistician, Dr. Alhassan Iddrisu, said producer prices serve as an early-warning indicator for the economy, providing signals of cost pressures at the factory gate before they potentially feed into retail prices.
He urged households to prioritise essential expenditure and adopt cost-saving measures, while encouraging businesses to improve efficiency, diversify suppliers and review pricing strategies to protect their margins.
Dr. Iddrisu also called on the government to use PPI data to guide targeted interventions in high-inflation sectors while leveraging sectors with relatively low inflation to promote job creation and competitiveness.
