Ghana’s Producer Price Inflation Drops to 5.9% in June — Lowest Since November 2023

Ghana’s Producer Price Inflation (PPI) dropped sharply to 5.9% in June 2025, its lowest level since November 2023, according to new data released by the Ghana Statistical Service (GSS). This marks a 4.2 percentage point decrease from May 2025 and a significant 19.7 percentage point reduction compared to June 2024. The report highlights a continued downward trend, with June being the fifth consecutive month of declining producer inflation.

The report also revealed a deflation of 1.4% on a month-on-month basis, indicating that producers received lower prices for their goods and services in June compared to May. This shift suggests reduced input costs and price pressure across various industries, with implications for producers’ profit margins and consumers’ purchasing behavior.

The Mining and Quarrying sector, which holds the largest weight in the PPI at 43.7%, experienced a steep inflation drop from 13.7% to 6.5%. Similarly, the Manufacturing sector, which contributes 35% to the inflation basket, recorded a decline from 9.8% to 7.6%. These sectors were the primary contributors to the overall fall in producer inflation.

Other industries also saw significant price changes. Transport costs fell further into deflationary territory, dropping from -4.8% to -7.0%, while the hospitality sector experienced a sharp reversal, with hotel and restaurant prices swinging from a 6.5% rise in May to a 2.7% drop in June—a 9.2 percentage point turnaround.

Commenting on the figures, Government Statistician Dr. Alhassan Iddrisu urged businesses to adapt by reassessing pricing strategies and embracing innovation. He also called on the government to ensure macroeconomic stability and support production, particularly in key sectors like mining and manufacturing. The GSS encouraged consumers to remain cautious, urging them to question markups and reward brands that pass on cost savings.

Source: Citi newsroom