Ghana’s producer price inflation inched higher to 1.5% in March 2026, up from 1.4% in February, reflecting a mild increase in factory-gate prices even as overall price pressures across the economy remain relatively contained, data from the Ghana Statistical Service showed.
On a month-on-month basis, producer prices rose by 0.7%, extending a pattern of gradual and uneven movements in the production sector.
The Producer Price Index (PPI) increased to 280.3 in March, compared with 278.4 in February, continuing a steady but modest upward trajectory after a prolonged period of disinflation seen over the past year.
Despite the monthly uptick, the year-on-year comparison underscores a sharp slowdown in price pressures. Producer inflation stood at 1.5% in March 2026, significantly lower than the 24.4% recorded in March 2025, highlighting a sustained easing in factory-gate cost escalation.
Sectoral trends, however, remain mixed beneath the headline figure.
Mining and quarrying, which carries the largest weight in the PPI basket at 43.7%, recorded 3.9% year-on-year inflation, making it the key contributor to overall price growth despite a slight moderation from February.
Manufacturing remained in negative territory at -2.2%, although the sector improved from -2.9% in the previous month, suggesting a gradual easing in deflationary pressure within industrial output.
Energy-related costs continued to stand out, with electricity and gas inflation at 13.6%, the highest across all sectors, even as it edged lower from February levels. The sustained elevation in energy prices continues to act as a structural cost burden across production activities.
In contrast, transport and storage prices fell further to -9.8% year-on-year, reflecting continued declines in logistics and fuel-related costs, while also helping to offset upward pressure from other sectors.
The services sector also remained in deflation at -0.9%, weighed down by declines in accommodation, warehousing, and food service activities, though pockets of growth were recorded in information and communication services.
On a monthly basis, the data showed continued divergence across sectors. Manufacturing rose by 1.0%, mining by 0.8%, while electricity and gas declined by 0.6%, reinforcing the uneven nature of pricing trends across the economy.
Overall, the latest figures point to an environment of low but uneven inflation, where gains in mining and energy are balanced by continued weakness in manufacturing and services, keeping overall producer price growth contained.
