According to the latest release from the Ghana Statistical Service (GSS), Producer Price Inflation (PPI) eased slightly to 1.6 percent in January 2026, down from 1.9 percent in December 2025, marking a 0.3 percentage point reduction.
On an annual basis, ex-factory prices for goods and services rose by 1.6 percent compared with January 2025. This represents a notable easing of producer price pressures, as the rate is 26.9 percentage points below the 28.5 percent recorded in the same month last year.
However, month-to-month figures tell a different story. Producer prices surged by 3.3 percent in January 2026, reversing the 0.8 percent decline seen in December 2025 and signaling renewed short-term cost momentum.
Looking at sectoral performance, mining and quarrying which makes up the largest share of the PPI basket at 43.7 percent recorded a year-on-year increase of 3.7 percent, up from 3.3 percent in December.
The manufacturing sector, contributing 35 percent to the index, saw prices contract sharply, with inflation falling to -2.2 percent in January from 0.1 percent the previous month, a drop of 2.3 percentage points.
Energy-related costs recorded significant increases. Electricity and gas prices jumped to 14.8 percent from 6.1 percent, while water supply, sewerage, and waste management inflation climbed to 9.9 percent from 2.3 percent.
Other sub-sectors continued to experience declines. Transport and storage prices fell further to -6.9 percent from -3.7 percent, and accommodation and food service activities saw a deeper deflation of -5.4 percent compared with -3.2 percent in December.
Meanwhile, information and communication recorded a modest slowdown, easing slightly to 1.4 percent from 1.7 percent.
In summary, while yearly producer price growth remains subdued, the sharp monthly rise of 3.3 percent highlights emerging short-term inflationary pressures that could affect pricing decisions across key industries in the near term.