Producer price inflation in Ghana slowed further to 1.4% in February 2026, down from 1.6% in January, extending the disinflation trend at the factory gate level.
The latest data from the Ghana Statistical Service also show a sharp year-on-year decline of 26.2 percentage points from 27.6% in February 2025, highlighting a significant easing in input cost pressures over the past year.
However, the data point to a build-up of short-term pressures, with producer prices rising by 1.3% month-on-month in February, suggesting that firms may begin to face renewed cost increases despite the broader disinflation trend.
Sectoral data show that mining and quarrying, which carries the largest weight of 43.7%, recorded an increase in inflation to 4.1%, up from 3.7% in January, reinforcing its influence on overall price movements.
In contrast, the manufacturing sector, accounting for 35% of the index, remained in deflation, with inflation declining further to negative 2.9%, indicating continued easing in production costs within the sector.
Utility-driven pressures remain elevated, with electricity and gas inflation at 14.3%, while water supply and waste management recorded 9.9%, pointing to persistent cost pressures in regulated services.
Meanwhile, weak demand conditions continue to reflect in parts of the services sector, as transport and storage inflation fell further to negative 8.6%, alongside accommodation and food services at negative 8.4%.
While the continued decline in annual producer inflation supports the broader disinflation narrative, the rebound in monthly prices signals emerging cost pressures that could influence producer pricing behaviour and feed into consumer inflation in the near term.
