Latest data from the Ghana Statistical Service (GSS) show that Producer Price Inflation (PPI) rose to 1.9 percent year-on-year in December 2025, up from 1.3 percent in November.
The December figure reflects changes in prices received by producers compared with the same period in 2024. Despite the annual increase, producer prices declined by 0.8 per cent on a month-on-month basis, indicating a fall in average prices at the factory gate between November and December.
Sectoral data reveal mixed trends. Industrial producer inflation climbed to 2.1 percent in December from 1.6 percent in November, suggesting a modest rise in costs across manufacturing, mining and utilities toward the end of the year.
Within the industrial sector, inflation in mining and quarrying increased sharply to 3.3 percent from 2.3 percent, making it a key driver of the overall rise in PPI. In contrast, manufacturing inflation slowed significantly to 0.1 percent from 0.5 per cent, while prices in the transport and storage sector remained in deflation, albeit at a slower pace.
The services sector recorded a comparatively lower annual inflation rate of 0.6 percent. On a month-on-month basis, service prices edged up marginally by 0.2 percent.
Overall, the subdued PPI outturn aligns with the broader disinflationary trend in the economy. Earlier this month, Government Statistician Dr. Alhassan Iddrisu announced that consumer inflation had eased to a multi-year low of 5.4 percent.
Analysts say the easing of producer price pressures could support price stability in 2026, as lower factory-gate costs often translate into more stable consumer prices. The disinflationary momentum has been attributed to relative stability in the cedi, improved domestic production, and softer global commodity prices.
