Building Construction Inflation Falls to 5.9% in November as Cost Pressures Ease – GSS Data
Ghana’s building construction inflation continued its downward trajectory in November 2025, easing to 5.9%, from 7.8% recorded in October, according to the latest Prime Building Cost Index (PBCI) released by the Ghana Statistical Service (GSS).
The statistical agency noted that the November outturn represents the seventh consecutive year-on-year decline in building construction inflation, pointing to a gradual moderation in cost pressures within the construction sector. The PBCI stood at 131.3 in November, compared with 123.9 in the corresponding period of 2024.
On a month-on-month basis, prices of building inputs edged up marginally by 0.4% between October and November, indicating mild price increases despite the broader easing in annual inflation.
A disaggregation of the data shows that labour costs remain relatively elevated, with year-on-year labour inflation recorded at 12.7%, although this marked a decline from 13.7% in October. Materials inflation eased further to 4.2%, while inflation for plant and equipment slowed to 5.3%, with both categories recording month-on-month price declines.
At the sub-group level, equipment, skilled labour and steel were identified as the largest contributors to construction inflation. In contrast, cement and reinforcement recorded negative inflation rates, suggesting price reductions within those components.
Commenting on the trend, the Ghana Statistical Service said the stabilisation in construction costs presents opportunities for households, businesses and government. It encouraged individuals to consider commencing or resuming stalled building projects, advised businesses to lock in prevailing prices through medium-term supply contracts, and urged government to accelerate infrastructure projects while construction costs remain comparatively lower.
The sustained moderation in construction inflation is expected to provide cautious relief for households and developers, particularly amid persistent housing cost pressures. If maintained, the trend could support improved activity across the housing and infrastructure sectors.
