Ghana’s Producer Price Inflation (PPI) for June 2025 has seen a sharp decline of 5.9%, marking the lowest level since November 2023, according to the Ghana Statistical Service (GSS).

Presenting the data in a press briefing held on Wednesday, July 16, in Accra, Government Statistician Dr. Alhassan Iddrisu indicated that for June alone, there was a deflation of 1.4%, meaning that, on average, producers earned less money for their products than they did in May.

This comes after a drop of 4.2 percentage points, given the 10.1% rate drop in May, indicating a significant drop of 19.7 percentage points compared to June 2024, when it was 25.6%, marking the fifth month in a row that the PPI has gone down.

“Ghana Producer Price inflation fell sharply to 5.9% in June 2025, down from 10.1% in May, a 42 percentage point dip in just a month, marking the fifth straight month of decline and the lowest rate since November 2023,” he announced.

Dr. Alhassan Iddrisu attributed the decline to the mining and manufacturing sectors along with the transport and hospitality sectors.

The mining and quarrying sector—Ghana’s largest contributor to the PPI with a 43.7% weight—saw inflation fall from 13.7% in May to 6.5% in June. Manufacturing, which contributes about 35% of the PPI basket, dipped from 9.8% to 7.6%.

Notably, transport sector inflation dropped even further, from -4.8 percent in May to -7.0 percent in June, while hotel and restaurant prices saw a dramatic reversal from a 6.5 percent rise to a 2.7 percent decline, representing a swing of 9.2 percentage points.

The services sector, such as banking, education, and health, saw a slight increase in prices, with inflation at just 0.7% compared to the same time last year. The construction sector had a higher rate of 6.0%.

In contrast, crude oil and natural gas prices went down by 25.1%. In manufacturing, the biggest price increases were seen in vehicle production, which went up 35.8%, and leather goods, which rose 32.4%. On the other hand, petroleum refining saw a price drop of 10.6%.

Dr. Iddrisu urged businesses to “rethink pricing and renegotiate smartly,” warning that while falling input costs present opportunities, they may also tighten margins. “Stay ahead by innovating, not just adjusting prices,” he advised.

He also called on the government to “lock in macroeconomic stability, boost production, and support key sectors like mining and manufacturing with smart incentives to maintain momentum and protect jobs.”

To consumers, the GSS recommended careful spending. “Buy smart, question markups, and support brands that pass savings on,” the report advised.