The rate of inflation faced by Ghanaian producers cooled to 3.0 per cent year-on-year in August 2025, down from 3.6 per cent the previous month, according to the latest Producer Price Index (PPI) newsletter from the Ghana Statistical Service.
The data, which measures the average change over time in prices received by domestic producers, indicates a mixed picture across the economy. While the overall trend showed moderation, disparities existed between sectors, with manufacturing inflation slowing dramatically and the services sector experiencing outright deflation.
The "Industry less Construction" sector, which carries the heaviest weight, recorded an annual inflation rate of 3.5 per cent. Within this broad category, the performance was uneven. The Mining and Quarrying sub-sector was a key driver of inflation, with its rate increasing to 4.9 per cent. Conversely, the Manufacturing sub-sector saw a substantial slowdown, with its inflation rate plunging to 1.6 per cent in August from 3.2 per cent in July.
A deep dive into manufacturing reveals stark contrasts. The manufacture of motor vehicles, trailers, and semi-trailers recorded the highest inflation of any sub-group at 35.8 per cent, matched by the manufacture of leather and related products at 33.2 per cent. In stark contrast, the manufacture of coke and refined petroleum products continued to see falling prices, recording deflation of 11.8 per cent.
The Services sector overall experienced a rare deflationary period, with prices falling by 0.3 per cent year-on-year. This was largely driven by a significant 8.0 per cent drop in prices within the Transport and Storage sub-sector. The Accommodation and Food Services sub-sector also saw prices fall by 3.1 per cent.
The Construction sector maintained a positive inflation rate of 4.3 per cent, though this represented a decrease from the 5.3 per cent recorded in July. On a month-on-month basis, construction producer prices actually decreased by 0.6 per cent.
The Ghana Statistical Service noted that the "PPI figures for August 2025 are provisional and subject to revision as additional data becomes available."