Ghana’s November 2025 Prime Building Cost Index (PBCI) reveals the main drivers of construction cost inflation, highlighting labor and materials as critical factors.
Skilled and unskilled labor combined contributed over 40% of overall inflation, while steel, tiles, and timber accounted for the largest material price impacts.
The PBCI for November stood at 131.3, reflecting a YoY increase of 5.9%, a marked improvement from the 7.8% recorded in October 2025.
Month-on-month, building material prices rose only 0.4%, signaling a stabilizing market.
The data also shows significant variances at the sub-group level: equipment prices surged 15.2% YoY, while reinforcement and cement costs fell by 7.3% and 3.3%, respectively.
Policy recommendations from the Ghana Statistical Service urge the government to prioritize strategic procurement for infrastructure projects and expand artisan training programs to reduce persistent labor cost pressures.
For businesses, locking in medium-term contracts is advised to hedge against potential price rebounds.
