Ghana’s Producer Price Inflation (PPI) rose to 4.0% year-on-year in July 2026, signaling a moderate increase in upstream price pressures across key sectors of the economy, according to the Ghana Statistical Service (GSS).
The July rate represents a 0.5 percentage-point increase from the 3.5% recorded in June.
On a month-on-month basis, producer inflation stood at 2.0%, while the overall Producer Price Index increased to 272.6 in July, compared with 267.4 in June and 262.2 in July 2025.
Mining sector drives increase
The industrial sector, excluding construction, recorded the strongest acceleration during the period, with annual inflation rising from 3.3% in June to 5.6% in July.
Meanwhile, inflation in the services sector eased slightly from 2.6% to 2.5%, while construction inflation declined from 4.9% to 4.8%.
Government Statistician Dr Alhassan Iddrisu attributed much of the increase to rising global gold prices, which pushed up costs within the mining and quarrying sector.
Mining and quarrying carries the largest weight in Ghana’s PPI basket at 43.7%. Annual inflation in the sector increased from 2.6% to 3.5%, supported by a 12.4 percentage-point rise in its monthly inflation rate.
Within the sector, crude petroleum and natural gas extraction recorded annual inflation of 12.2%, while metal ore mining recorded a 2.3% contraction.
Utility and manufacturing costs remain elevated
Utility costs also remained a significant source of producer price pressures.
Electricity and gas recorded the highest annual inflation among the sub-sectors at 13.3%, followed by water supply and waste management at 10.1%.
Manufacturing inflation also increased slightly to 3.7%, with fabricated metal products recording inflation of 25.9% and leather products registering 17.4%.
Potential impact on consumer prices
Although producer inflation remains well below the highs recorded in previous years, the latest monthly increase suggests renewed cost pressures that could eventually filter through to consumer prices if the trend persists.
The Ghana Statistical Service advised households to prepare for potentially sustained utility and transportation costs.
It also encouraged businesses to consider longer-term input contracts as a way of managing fluctuations in production costs.
