Ghana’s year-on-year producer price inflation slowed to 3.5% in June 2026 from 5.8% in May, driven largely by a sharp moderation in prices within the mining and quarrying sector, according to the Ghana Statistical Service (GSS).
The latest Producer Price Index (PPI) data also showed that producer prices declined by 3.7% on a month-on-month basis in June, marking the sharpest monthly fall recorded in recent months and signaling easing price pressures at the producer level.
Releasing the June 2026 Producer Price Index and Producer Inflation report, Government Statistician Dr. Alhassan Iddrisu said the latest figures point to a notable shift in producer pricing trends.
“In June 2026, year-on-year producer inflation was 3.5%. Year-on-year simply means comparing June 2026 to June 2025. So on average, producers were charging 3.5% more than in June 2025,” he said.
He noted that the annual producer inflation rate declined by 2.3 percentage points from the 5.8% recorded in May.
“Month-on-month, which compares June 2026 to just a month before, prices actually fell by 3.7%. Producers on average charged less in June than in May 2026,” he explained.
According to Dr. Iddrisu, the decline was largely driven by developments in the mining and quarrying sector, which carries significant weight in the producer price index.
“What drove this? One word, mining. Mining and quarrying is our largest sector, and its yearly rate dropped sharply from 11% in May 2026 to just 2.6% in June 2026. That single shift pulled the whole index down,” the Government Statistician remarked.
Despite the overall moderation, several sectors continued to record elevated producer inflation, highlighting persistent cost pressures in parts of the economy.
Manufacturing producer inflation accelerated from 0.8% in May to 3.5% in June. The electricity and gas sector recorded an annual producer inflation rate of 12.5%, while transport and storage registered 10%. Accommodation and food services also posted a 10.8% inflation rate.
Dr. Iddrisu stressed that the easing in overall producer inflation does not suggest that price pressures have disappeared.
“The pressure didn’t disappear, it shifted,” he stated.
He urged businesses to take advantage of the softer producer prices to improve efficiency and better manage production costs.
“Businesses, improve productivity, lock in your input costs while prices are soft,” Dr. Alhassan Iddrisu mentioned.
He also called on government to sustain macroeconomic stability while monitoring sectors where inflationary pressures remain elevated.
“Government, maintain macroeconomic stability and keep a close watch on energy and transport,” Dr. Alhassan Iddrisu admonished.
For consumers, the Government Statistician cautioned that the moderation in producer inflation may not immediately translate into broad-based declines in retail prices.
“Households, expect mixed signals at the shops,” Dr. Alhassan Iddrisu emphasized.
