Ghana’s producer price inflation rose marginally in March 2026, signalling a slight uptick in ex-factory prices despite easing pressures in key sectors, the Ghana Statistical Service (GSS) has announced.
“The Producer Price Index (PPI) rose to 280.3 in March 2026, up from 278.4 in February 2026 and 276.1 in March 2025,” according to the latest Producer Price Index (PPI) report.
This translated into a year-on-year producer inflation rate of 1.5%.
“Year-on-Year (YoY) producer price inflation for all goods and services stood at 1.5% in March 2026,” the report stated.
The GSS explained that this means “on average, the ex-factory price of goods and services increased by 1.5% between March 2025 and March 2026”.
On a monthly basis, producer prices also recorded a modest rise.
“On a month-on-month (MoM) basis, producer prices for goods and services increased by 0.7% in March 2026 compared to February 2026,” the report noted .
This reflects short-term price pressures within the production chain, even as the annual trend remains relatively subdued.
The report highlighted varied performance across sectors, with some recording increases while others saw declines.
Mining and quarrying, the largest contributor to the index, experienced a slight drop.
“Mining and Quarrying… recorded a 0.2 percentage point decrease in producer inflation, falling from 4.1% in February 2026 to 3.9% in March 2026,” the GSS said .
In contrast, the manufacturing sector showed signs of recovery, though it remained in negative territory.
“The Manufacturing sector… increased from -2.9% in February 2026 to -2.2% March 2026, gaining 0.7 percentage points,” the report added .
Transport and storage continued its downward trend, reflecting easing cost pressures in logistics.
“Producer inflation in the transport and storage sub-sector continued to fall, declining from -8.6% in February 2026 to -9.8% in March 2026,” the report revealed.
Overall, the GSS noted that producer inflation rose marginally from February.
“In March 2026, Ghana’s Producer Price Inflation is 1.5%, up from 1.4% in February 2026, representing a 0.1 percentage point increase,” it stated.
Despite the increase, the current rate remains significantly lower compared to the same period last year, suggesting a general easing of inflationary pressures at the production level.
The GSS urged businesses and policymakers to respond cautiously to evolving price trends.
It advised firms to “consider negotiating medium-term supply agreements to secure more favourable pricing” while adjusting pricing strategies carefully to avoid reducing demand .
For government, the Service emphasised the need to sustain gains in the transport sector.
“Declining transport inflation is positive for cost competitiveness. Thus, policies should aim to support fuel supply stability and logistics efficiency,” the report recommended .
The Producer Price Index tracks changes in prices received by domestic producers and is a key indicator of inflationary trends within the economy.
