Producer price inflation (PPI) recorded a marginal increase in March 2026, reaching 1.5% compared to 1.4% in February.
This 0.1 percentage point uptick reflects a modest rise in the cost of goods and services at the factory gate, according to the latest data from the Ghana Statistical Service (GSS).
The Producer Price Index rose to 280.3 in March, up from 278.4 the previous month. Interestingly, while the annual rate edged up, the month-on-month producer price growth slowed to 0.7%, down from the 1.3% growth recorded in February.
Performance across key sectors remained varied. The utilities sector continued to experience the highest cost pressures, with electricity and gas inflation at 13.6% and water supply at 9.9%. Conversely, the mining and quarrying sector—the largest component of the index—saw a slight decline to 3.9%, down from 4.1% in February.
Manufacturing remained in negative territory at -2.2% but showed signs of recovery from the -2.9% recorded in the previous month. Significant relief was also found in transport and storage, where inflation fell to -9.8%, and in accommodation and food services, which stood at -9.4%.
Despite the slight March increase, the overall trend suggests a significant cooling of industrial costs. A year ago, producer inflation was more than 20 percentage points higher, highlighting a substantial easing of supply chain pressures.
For Ghanaian businesses, this relatively stable environment offers a window for more predictable input costs and improved strategic planning.
However, the persistence of high utility costs remains a challenge for industrial margins.
