Ghana’s producer price inflation eased to 1.3 per cent in November 2025, reflecting a slowdown in price pressures faced by domestic producers, according to the latest Producer Price Index report released by the Ghana Statistical Service.
The November figure represents a marginal decline from the 1.4 per cent recorded in October and indicates that producer prices increased by an average of 1.3 per cent between November 2024 and November 2025. On a month-on-month basis, however, the PPI recorded a notable contraction of 1.9 per cent, signalling an overall fall in prices between October and November this year.
Data from the Statistical Service show that the decline was driven largely by developments in the industrial sector, excluding construction, where prices fell by 2.3 per cent month-on-month despite recording a year-on-year inflation rate of 1.7 per cent. Mining and quarrying, which carries the heaviest weight within the PPI basket, recorded a sharp monthly decline of 4.7 per cent even as its annual inflation rose to 2.3 per cent in November.
Manufacturing prices showed relative stability, with year-on-year inflation slowing significantly to 0.5 per cent from 2.5 per cent in October. Within the manufacturing sub-sector, the Ghana Statistical Service reported wide variations, with the manufacture of leather and related products recording the highest inflation at 35.0 per cent, while the manufacture of coke and refined petroleum products posted the deepest deflation at minus 12.5 per cent.
In the construction sector, producer inflation edged up slightly to 0.7 per cent year-on-year, compared to 0.4 per cent in October. The sector also recorded a month-on-month increase of 0.4 per cent, suggesting modest upward pressure on construction-related input costs, particularly in civil engineering and specialised construction activities.
The services sector continued to exert a dampening effect on overall producer inflation, recording a year-on-year deflation of 0.6 per cent in November. This marked a deeper contraction compared to the minus 0.3 per cent registered in October, largely influenced by declines in transport and storage as well as accommodation and food services activities.
Despite the annual decline, service producer prices increased marginally on a month-on-month basis by 0.1 per cent, with information and communication remaining the most stable sub-sector. The Statistical Service noted that motion picture, video and television production recorded the highest inflation within the services sector at 52.0 per cent, highlighting persistent cost pressures in parts of the creative industry.
The Ghana Statistical Service indicated that the November 2025 PPI figures are provisional and subject to revision as additional data become available. The Service said the index remains a key indicator for tracking inflationary trends at the producer level and provides early signals for potential movements in consumer prices in the months ahead.
