The Year-on-Year (Y-o-Y) change in the Producer Price inflation (PPI) for June 2026 was 3.5%.

This is down from the 5.6% recorded in May 2026.

According to data from the Ghana Statistical Service (GSS), the Month-on-Month (M-o-M) change in the PPI for May 2026 was -3.7%.

The Industrial Producer Price Index (I-PPI) inflation rate for June 2026 was, however, 3.3%. This represents a decrease of 2.7 percentage points compared to the rate recorded in May 2026 (6.0%).

On a month-on-month basis, the I-PPI decreased by 4.2% between May and June 2026, indicating a 4.2% decrease in industrial producer prices over the month.

According to the GSS, the performance of the I-PPI sub-sectors in 2025 showed varied trends. Industry less Construction increased from 285.5 in June 2025 to 304.4 in October 2025, declined to 294.7 in December 2025, and then recovered to 315.5 in March 2026 before easing to 294.9 in June 2026.

Similarly, Manufacturing rose gradually from 251.7 in June 2025 to about 263.7 in November 2025, then gradually inched up to 260.5 in June 2026.

The Mining and Quarrying sub-sector also recorded the highest index values, rising from 336.2 in June 2025 to a peak of 366.1 in October 2025, despite a mid-year dip.

The Electricity and Gas sub-sector remained relatively stable despite some fluctuations, beginning at 206.7 in June 2025 and showing a gradual upward trend, with a notable spike in January 2026 (234.1), before reaching 232.6 in June 2026.

The Water supply, sewerage, waste management, and remediation activities also remained relatively stable, increasing gradually from 158.8 in June 2025 and rising to 175.1 in June 2026 (Figure 1).

Manufacturing Sub-Sector

In June 2026, 14 of the 23 major groups within the Manufacturing sub-sector recorded inflation rates above the sub-sector’s average of 3.5%.

The highest inflation was recorded in the Manufacture of fabricated metal products, except machinery and equipment, at 26.3%, followed by the Manufacture of leather and related products at 19.1%.

In contrast, the manufacture of other non-metallic mineral products recorded the lowest inflation at -2.3%.

Mining and Quarrying Sub-Sector

In June 2026, the extraction of crude oil and natural gas experienced an inflation rate of 5.0%. The inflation rate for Mining of Metal Ores decreased by 5.8 percentage points from 6.5% in May 2026 to 0.7% in June 2026.

The mining support service activities recorded an inflation rate of 5.8% in June 2026, down from 5.0% in May 2026.