Latest data from the Ghana Statistical Service (GSS) show that Producer Price Inflation (PPI) declined marginally to 1.6 percent in January 2026 from the 1.9 percent recorded in December 2025. This represents a 0.3 percentage point drop.
The figures, released on February 18, 2026, indicate that on a year-on-year basis, the ex-factory prices of goods and services increased by 1.6 percent between January 2025 and January 2026. The rate is also 26.9 percentage points lower than the 28.5 percent recorded in January 2025, reflecting a significant easing in producer price pressures over the past year.
However, on a month-on-month basis, producer prices rose sharply by 3.3 percent in January 2026, compared to a contraction of 0.8 percent in December 2025, pointing to renewed short-term price momentum. Sectoral data show mixed trends across the economy.
Mining and quarrying, which carries the largest weight of 43.7 percent in the PPI basket, recorded a year-on-year inflation rate of 3.7 percent in January 2026, up from 3.3 percent in December 2025 — a 0.4 percentage point increase.
In contrast, the manufacturing sector, which accounts for 35 percent of the index, saw inflation fall sharply to negative 2.2 percent in January 2026 from 0.1 percent in December 2025 — a decline of 2.3 percentage points.
Electricity and gas recorded a significant jump in year-on-year inflation to 14.8 percent in January 2026, up from 6.1 percent in December 2025. Similarly, water supply, sewerage and waste management rose to 9.9 percent from 2.3 percent over the same period.
The transport and storage sub-sector continued its downward trend, with inflation declining further to negative 6.9 percent in January 2026 from negative 3.7 percent in December 2025.
Accommodation and food service activities also recorded a deeper deflation of negative 5.4 percent, compared to negative 3.2 percent in December 2025.
Meanwhile, information and communication recorded a slight moderation, easing to 1.4 percent in January 2026 from 1.7 percent in December 2025.
Overall, while annual producer inflation continues to moderate, the strong month-on-month increase of 3.3 percent suggests emerging short-term cost pressures that could influence pricing decisions across key sectors in the coming months.
