Ghana’s Producer Price Inflation (PPI) dropped to 24.4% in March 2025, down from 27.6% in February. This marks a 3.2 percentage point decrease, according to provisional data from the Ghana Statistical Service (GSS). On a month-to-month basis, prices rose slightly by 0.6%.

Among the sectors, Mining and Quarrying recorded the highest inflation rate at 35.4%, though this was a notable drop from 43.7% the previous month.

The Manufacturing sector followed with a rate of 22.8%, up from 20.8% in February.

On the lower end, the Information and Communication sector had the lowest inflation rate at 4.1%, a minor decline from 4.2%.

Other sectors recorded the following changes:

Construction: Fell to 15.4% from 15.8%

Accommodation and Food Services: Dropped to 7.2% from 7.8%

The PPI tracks how prices received by domestic producers change over time. It covers major areas such as Mining and Quarrying, Manufacturing, Electricity and Gas, Water Supply, Construction, Transport and Storage, Accommodation and Food Services, and Information and Communication.

Meanwhile, Tsonam Akpeloo, Greater Accra Regional Chairman of the Association of Ghana Industries (AGI), expressed concern about the recent hikes in utility tariffs. Electricity costs are set to increase by 14.75%, and water tariffs by 4.02%.

“We urge the government to prioritize local industrialization and create special tariff arrangements that significantly reduce electricity costs for manufacturers. Otherwise, the benefits of the declining inflation rate may be short-lived,” he said.

Akpeloo added: “If utility prices continue to rise, the overall cost of production will remain high, offsetting the positive effects of a falling PPI.

All these prices are interlinked, and without addressing utility costs, inflation gains may not translate into real industrial competitiveness.”