Ghana’s Producer Price Index (PPI) inflation rose to 4.0 per cent in July 2026, from 3.5 per cent in June, driven largely by higher producer costs in industry, particularly mining and quarrying.
Industry, excluding construction, recorded annual inflation of 5.6 per cent, while construction recorded 4.8 per cent. The services sector recorded inflation of 2.5 per cent.
The Government Statistician, Dr Alhassan Iddrisu, disclosed this at a news conference in Accra yesterday to release the July PPI figures.
He said the figures were provisional and could be revised as additional data became available.
Dr Iddrisu said the increase reflected a broad pick-up in producer price pressures, with mining and quarrying making the largest contribution.
“Producer prices increased by 2.0 per cent between June and July 2026, with nearly all sub-sectors recording positive or flat month-on-month inflation,” he said.
According to him, the overall PPI index increased to 272.6 in July, from 267.4 in June and 262.2 in July 2025.
He said the month-on-month movement was particularly notable, with producer prices rising by 2.0 per cent in July, compared with a 3.7 per cent decline in June.
Dr Iddrisu said mining and quarrying, which carries the largest weight in the PPI basket at 43.7 per cent, was the main driver of the annual increase.
Its inflation rate rose from 2.6 per cent in June to 3.5 per cent in July, contributing 1.5 percentage points to the overall rate.
“Mining and quarrying, which carries the largest weight in the PPI basket at 43.7 per cent, was the main driver of the annual increase. Its inflation rate rose from 2.6 per cent in June to 3.5 per cent in July, contributing 1.5 percentage points to the overall rate,” Dr Iddrisu said.
He attributed the sharp monthly increase in the sector to developments in mining, including higher gold prices.
Mining and quarrying recorded month-on-month inflation of 3.0 per cent, compared with a 9.4 per cent decline in June.
Manufacturing, which has a 35 per cent weight in the index, also recorded a modest increase in annual inflation, moving from 3.5 per cent in June to 3.7 per cent in July.
“Within manufacturing, prices remained uneven. Fabricated metal products recorded the highest annual inflation at 25.9 per cent, followed by leather and related products at 17.4 per cent. Other non-metallic mineral products recorded deflation of 2.3 per cent,” he said.
Dr Iddrisu said electricity and gas remained among the areas with the strongest annual price pressures, recording inflation of 13.3 per cent, up from 12.5 per cent in June.
Water supply, sewerage and waste management recorded inflation of 10.1 per cent, while transport and storage also stood at 10.1 per cent.
In the services sector, producer inflation stood at 2.5 per cent. Land transport, however, recorded a much higher rate of 23.4 per cent, while accommodation and food services recorded 9.9 per cent.
Dr Iddrisu said construction producer inflation eased marginally to 4.8 per cent in July, from 4.9 per cent in June.
“The latest increase suggests that while producer inflation remains moderate, cost pressures in key sectors could feed into consumer prices if businesses pass higher production and operating costs on to households,” he said.
BY KINGSLEY ASARE