Producer Price Inflation rises to 4.4% in August

Producer price inflation rose to 4.4% in August 2026, up from 4.0% in July, as higher prices in the mining and quarrying sector pushed up the cost pressures facing producers.

The latest data from the Ghana Statistical Service (GSS) also shows that producer prices increased by 2.5% month-on-month, compared with 2.0% in July. The figures measure changes in the prices received by domestic producers for their goods and services and are provisional. Mining and quarrying emerged as the biggest driver, recording annual producer inflation of 4.9%, up from 3.5% in July. The sector, which carries the largest weight in the PPI at 43.7%, contributed 2.1 percentage points to the overall 4.4% inflation rate.

The increase was largely linked to crude oil and natural gas, where producer inflation reached 12.9% in August. Mining support services recorded 5.7%, while mining of metal ores recorded a smaller decline of 0.4%.

The industrial sector is also facing firmer cost pressures. Producer inflation for Industry excluding Construction climbed to 6.3%, from 5.6% in July, with industrial producer prices rising 3.1% over the month.

Within manufacturing, leather products recorded the highest annual inflation at 17.4%, followed by fabricated metal products at 16.4%. Food manufacturing also remained elevated at 7.1%.

Construction producer inflation, however, eased to 4.5% from 4.8% in July, while services recorded the lowest annual rate among the three broad sectors at 1.8%.

For businesses, the latest PPI points to a mixed cost environment: while overall producer inflation remains moderate, pressure is building in key production-related sectors, particularly mining and industry.

The GSS says businesses should respond by strengthening cost controls, securing critical inputs, diversifying suppliers and investing in productivity-enhancing technologies to manage rising input costs and maintain competitiveness.