Producer Price Inflation (PPI) rose to 28.5 percent year-on-year in January 2025
Producer Price Inflation (PPI) rose to 28.5 percent year-on-year in January 2025 from 26.1 percent in December 2024, latest data from the Ghana Statistical Service (GSS) show.
This represents a 2.4 percentage point increase in producer inflation relative to the rate recorded in December 2024.
On a month-on-month basis, producer inflation increased by 3.6 percent between December 2024 and January 2025 – marking a sharp contrast to the 1.4 percent decline recorded in the previous month.
PPI measures the average change over time in selling prices of goods and services received by domestic producers. It serves as a key indicator of inflationary trends within the country’s industrial and services sectors.
A breakdown of the data shows that the producer price inflation in the Industry sector, excluding construction, rose from 40.2 percent in December 2024 to 43.7 percent in January 2025.
The construction sub-sector rate increased to 29.8 percent in January 2025, while for the Services sector it was 7.7 percent.
Sector-specific insights
Year-on-year producer inflation for the industry sector less construction was 43.7 percent in January 2025 – a monthly change rate of 4.5 percent.
The mining and quarrying sub-sector recorded the highest year-on-year producer price inflation rate of 47.5 percent, followed by the manufacturing sub-sector with 19.9 percent.
The water supply, sewerage, and waste management sub-sector recorded the lowest year-on-year producer inflation rate of 4.8 percent; however, it recorded no inflation month-on-month for January 2025.
The mining and quarrying sub-sector recorded the highest month-on-month inflation rate of 6.6 percent, followed by the manufacturing sub-sector with 2.0 percent.
Construction PPI:
The year-on-year producer inflation for construction was 29.8 percent in January 2025, with a monthly change rate of 0.3 percent.
The civil engineering sub-sector recorded the highest year-on-year producer price inflation rate of 37.3 percent, followed by the specialised construction sub-sector with 18.7 percent.
The buildings-construction sub-sector recorded the lowest year-on-year producer inflation rate of 14.7 percent; however, it recorded the highest month-on-month inflation rate of 0.6 percent. This was followed by the specialised construction activities sub-sector recording 0.3 percent.
The civil engineering sub-sector recorded the lowest inflation rate of 0.2 percent in January 2025.
Services PPI
The year-on-year services producer price inflation was 7.7 percent in January 2025, with a monthly change rate of 0.4 percent.
The accommodation and food service sub-sector recorded the highest year-on-year producer price inflation rate of 29.0 percent, followed by the transport and storage sub-sector with 22.0 percent.
The information and communication sub-sector recorded the lowest year-on-year producer inflation rate of 4.2 percent.
On month-on-month basis, the accommodation and food service sub-sector recorded the highest month-on-month inflation rate of 1.7 percent, followed by the transport and storage sub-sector with 1.1 percent. The information and communication sub-sectors recorded the lowest month-on-month inflation rate of 0.2 percent.
