Ghana’s year-on-year producer price inflation (PPI) dropped sharply to 10.2% in May 2025 from 18.5% in April, the lowest rate recorded since November 2023, according to the Ghana Statistical Service (GSS).
The latest figure marks the fourth consecutive monthly decline, reflecting growing price stability across key sectors.
On a month-on-month basis, producers earned 4.2% less in May than in April, signalling deflation in ex-factory prices. The Producer Price Index for May stood at 262.4, down from 273.9 in April.
Mining and Quarrying (13.7%) and Manufacturing (10.1%) were the main drivers of the inflation drop, contributing a combined 78.7% to the fall.
Sectors such as transportation and storage (-13.5%) and accommodation and food services (-9.2%) recorded significant month-on-month deflation, further easing overall inflationary pressures.
Meanwhile, electricity and gas saw a surge, recording a 4.6% month-on-month inflation rate for the month of May.
The GSS described the decline as a potential catalyst for investment, urging businesses to take advantage of the stable pricing environment by revisiting expansion plans and negotiating better loan terms.
Firms have also been encouraged to adjust their pricing strategies and source locally to manage costs.
The government is being advised to fast-track key industrial policies such as the Gold Board and the Agriculture for Transformation Agenda to sustain the trend, boost exchange rate stability, and enhance import substitution.
The GSS assured stakeholders of continuous monitoring and timely updates to inform policy, business decisions, and public awareness.
