By: Enock Ankomah
Ghana’s Producer Price Inflation has risen sharply to 5.8 percent in May 2026, up from 2.7 percent recorded in April, according to the latest figures released by the Ghana Statistical Service. The increase represents a significant 3.1 percentage point rise in the cost of goods and services at the producer level over the past year.
The Producer Price Index, which measures changes in prices received by domestic producers for their goods and services, stood at 277.4 points in May 2026, higher than the 262.4 points recorded in May 2025, reflecting growing cost pressures across key sectors of the economy.
Despite the annual increase, producer prices declined on a monthly basis. The report shows that producer inflation fell by 1.4 percent between April and May 2026, suggesting a short-term easing in price pressures. The rise in producer inflation was largely driven by the Mining and Quarrying sector, Ghana’s largest producer sector, which recorded an inflation rate of 11 percent, up from 5.6 percent in April.
The sector alone contributed nearly five percentage points to the overall inflation rate. The Manufacturing sector, which accounts for 35 percent of the Producer Price Index basket, also returned to positive territory, recording 0.7 percent inflation after posting a negative 0.7 percent in April.
Meanwhile, the Transport and Storage sector experienced a dramatic turnaround, moving from a deflation rate of minus 6.6 percent in April to 7.7 percent inflation in May. Across the broader economy, the Industry less Construction sector recorded a year-on-year inflation rate of 5.1 percent, while the Construction sector registered 4.3 percent, and the Services sector posted 1.8 percent inflation.
Within the mining industry, the extraction of crude oil and natural gas recorded the highest inflation rate at 18.8 percent, highlighting increasing costs within Ghana’s resource sector. In manufacturing, producers of leather products and beverages recorded the strongest price increases, with inflation rates of 19.1 percent and 16.3 percent respectively.
The Construction sector also showed signs of strengthening, with inflation rising to 4.3 percent from 0.9 percent in April. Construction of buildings recorded the highest inflation within the sector at 5.4 percent. In the Services sector, Transport and Storage led with 7.7 percent inflation, followed by Accommodation and Food Services at 2.9 percent. Information and Communication remained relatively stable at 0.5 percent.
