GHANA’S year-on-year Producer Price Inflation (PPI) inched up to 1.5 per cent in March 2026 from 1.4 per cent recorded in February, on the back of increasing fuel prices.

The Producer Price Index rose to 280.3 in March 2026, up from 278.4 in February 2026 and 276.1 in March 2025, indicating that, on average, ex-factory prices of goods and services increased by 1.5 per cent between March 2025 and March 2026.

The March rate represents a marginal increase of 0.1 percentage points over the February 2026 figure but a sharp decline compared to the same period last year.

The Government Statistician, Alhassan Iddrisu, who disclosed this in Accra on Wednesday, said on a month-on-month basis, producer prices rose by 0.7 per cent between February and March 2026, suggesting a modest pickup in price levels within the period.

He said the Industrial Producer Price Index (I-PPI) recorded a year-on-year inflation rate of 1.8 per cent in March 2026, unchanged from the rate observed in February, adding that on a month-on-month basis, the industrial index increased by 0.6 per cent, pointing to steady growth in industrial producer prices.

“Within the construction sector, the Construction Producer Price Index (C-PPI) recorded an inflation rate of 0.3 per cent in March 2026, representing a slight decline of 0.1 percentage points from the February rate of 0.4 per cent. On a monthly basis, however, construction producer prices edged up by 0.1 per cent,” the Government Statistician stated.

Sub-sector developments within construction, he said, showed mixed trends, with inflation for the construction of utility projects remaining the highest at 15.6 per cent, while inflation for roads and railways rose marginally to 3.8 per cent and building completion and finishing maintained a steady rate of 2.1 per cent.

Electrical and plumbing activities increased with a weight of 43.7 per cent, recording a decline in inflation from 4.1 per cent in February to 3.9 per cent in March 2026. Within the sector, mining of metal ores saw a significant drop, while support service activities recorded a slight decline.

“The services sector registered a year-on-year deflation of 0.9 per cent in March 2026, compared to a slightly higher contraction in February. On a monthly basis, however, the sector experienced a marginal increase of 0.1 per cent. Within services, transport and storage continued its downward trend, declining further to -9.8 per cent in March from -8.6 per cent in February,” Dr Iddrisu stated.

Water transport recorded the highest inflation rate at 31.2 per cent, while postal and courier services registered the lowest at 1.6 per cent.

He said the information and communication sub-sector, motion picture and related activities recorded exceptionally high inflation at 87.9 per cent, while telecommunications remained stable.

Dr Iddrisu said the manufacturing sector continued to record deflation, although conditions improved. He said the sector’s inflation rate rose from -2.9 per cent in February to -2.2 per cent in March 2026.

Notably, 18 out of 23 major manufacturing groups recorded inflation rates above the sector average. Manufacture of beverages led with 15.2 per cent inflation, followed by rubber and plastics products at 8.3 per cent, while petroleum-related products recorded the lowest rate at -13.9 per cent.

He added that mining and quarrying, which remained the largest sector, also showed mixed performance across sub-components, with several categories recording declines.