Ghana's industrial producer price inflation rose to 7.2% in September 2026 from 6.3% in August, while producer inflation across all activities, including construction and services, rose to 4.8% from 4.4%, statistics agency Ghana Statistical Service (GSS) said on October 21 in provisional figures. Producer prices across all activities rose 1.3% from the previous month.
Analysis: Industrial producer inflation was two percentage points above consumer inflation of 5.2%, potentially adding pressure on retail prices if higher business costs are passed through. However, the statistics agency reported smaller increases in mining and quarrying, at 5.5%, and manufacturing, at 4.6%, so the sector breakdown does not clearly explain the headline rate. Manufacturers were still expanding output, with production up 5.8% year-on-year in the second quarter. GSS is expected to release October producer prices in the second half of November, giving a further indication of cost pressures.
Source: Ghana Statistical Service, GSS, Producer Price Index (PPI) Monthly Newsletter, September 2026 (dated 21-10-2026), September 2026 and August 2026; Ghana Statistical Service, GSS, Producer Price Index (PPI) Monthly Newsletter, September 2026, September 2026; Ghana Statistical Service, GSS, September 2026 CPI COICOP Annexes (xlsx), Annex 1 Headline CPI & Inflation, September 2026; Ghana Statistical Service, GSS, Index of Industrial Production (IIP) Quarterly Newsletter, 2026 Quarter 2 (dated 09-09-2026), Q2 2026