Ghana’s producer price inflation (PPI) fell significantly to 10.2% in May 2025, down from 18.5% in April, according to new data released by the Ghana Statistical Service (GSS).
This marks the fourth straight monthly decline and the lowest rate recorded since November 2023, indicating rising price stability in the production sector.
The GSS also revealed that producers earned 4.2% less in May compared to April, pointing to a notable deflation in ex-factory prices. The Producer Price Index dropped from 273.9 in April to 262.4 in May.
Mining and Quarrying (13.7%) and Manufacturing (10.1%) were identified as the primary contributors to the slowdown in inflation, together accounting for 78.7% of the overall decline. Meanwhile, the sectors of transportation and storage (-13.5%) and accommodation and food services (-9.2%) also experienced sharp deflation month-on-month.
However, electricity and gas registered a 4.6% rise in inflation, bucking the deflationary trend seen in most other sectors.
The GSS described the sustained drop in producer inflation as a potential catalyst for investment. It encouraged businesses to leverage the current stable pricing environment to revisit expansion strategies and negotiate more favourable credit terms.
Firms were further advised to revise pricing models and increase local sourcing as a cost-control measure.
The government was also urged to expedite the implementation of strategic industrial policies like the Gold Board and the Agriculture for Transformation Agenda to support this positive trajectory, reinforce exchange rate stability, and promote import substitution.
The GSS assured stakeholders of continuous monitoring and timely dissemination of updates to guide policy formulation, business strategies, and public awareness.
