The Ghana Statistical Service (GSS) has announced that the Producer Price Inflation (PPI) for January 2026 declined marginally from the 1.9 per cent recorded in December 2025 to 1.6 per cent. This represents a 0.3 percentage point drop.
According to the data released on Wednesday, February 18, 2026, on a year-on-year basis, the ex-factory prices of goods and services increased by 1.6 per cent between January 2025 and January 2026.
The rate, the data says is also 26.9 per cent points lower than the 28.5 per cent recorded in January 2025, showing a significant easing in producer price pressures over the past year.
But, on a month-on-month basis, producer prices rose sharply by 3.3 per cent in January 2026, compared to a contraction of 0.8 per cent in December 2025, pointing to renewed short-term price momentum.
Meanwhile, sectoral data show mixed trends across the economy.
Mining and quarrying, which carries the largest weight of 43.7 per cent in the PPI basket, recorded a year-on-year inflation rate of 3.7 per cent in January 2026, up from 3.3 per cent in December 2025, showing a 0.4 percentage point increase.
In contrast, the manufacturing sector, which accounts for 35 per cent of the index, saw inflation fall sharply to negative 2.2 per cent in January 2026 from 0.1 per cent in December 2025, indicating a decline of 2.3 percentage points.
Also, electricity and gas recorded a significant jump in year-on-year inflation to 14.8 per cent in January 2026, up from 6.1 per cent in December 2025. Similarly, water supply, sewerage and waste management rose to 9.9 per cent from 2.3 per cent over the same period.
The transport and storage sub-sector continued its downward trend, with inflation declining further to negative 6.9 per cent in January 2026 from negative 3.7 per cent in December 2025.
Accommodation and food service activities also recorded a deeper deflation of negative 5.4 per cent, compared to negative 3.2 per cent in December 2025.
Information and communication, during the period, recorded a slight moderation, easing to 1.4 per cent in January 2026 from 1.7 per cent in December 2025.
Overall, while annual producer inflation continues to moderate, the strong month-on-month increase of 3.3 per cent suggests emerging short-term cost pressures that could influence pricing decisions across key sectors in the coming months.
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