Ghana’s Producer Price Inflation (PPI) for June 2025 has dropped to 5.9%, marking the lowest rate recorded since November 2023.
The June figure represents a 4.2 percentage point decline from the 10.1% recorded in May, and marks the fifth consecutive month of falling producer inflation—an encouraging sign of continued price stability in the economy.
This was contained in the latest report from the Ghana Statistical Service (GSS). The report also recorded a producer price deflation of 1.4% between May and June 2025, indicating that, on average, the prices producers received for their goods and services actually decreased over the month.
This trend could translate into lower retail prices if producers pass the savings on to consumers. The drop in inflation was largely driven by two major sectors—Mining and Quarrying and Manufacturing—which together account for nearly 80% of the PPI basket.
Mining and Quarrying, Ghana’s largest sector with a weight of 43.7%, saw a dramatic fall in inflation from 13.7% in May to 6.5% in June, shedding 7.2 percentage points. Manufacturing, which constitutes 35% of the index, also declined significantly, from 9.8% to 7.6%. These two sectors alone were responsible for the biggest impact on the headline inflation drop.
With costs also falling in key consumer-related services such as transport and hospitality Ghanaians may soon begin to feel the benefits more directly.
Transport inflation, already in negative territory, declined even further from -4.8% in May to -7.0% in June.
Hotel and restaurant services saw a significant price swing, dropping from +6.5% to -2.7%, a dramatic 9.2 percentage point shift. If these downward trends persist and are reflected in consumer pricing, it could provide relief at fuel pumps, restaurants, and travel-related services.
