Ghana's building costs rose 5.1% in September 2026, down from 9.7% a year ago. The September 2026 Prime Building Cost Index puts building inflation at 5.1%, with prices rising 0.03% from August.
Cement and steel prices fell, while reinforcement and plumbing costs rose.
The Government Statistician, Dr Alhassan Iddrisu, said building costs are still rising, but at a much slower pace than last year. Materials make up 76.5% of the building cost basket and account for 97.2% of headline inflation. In September 2026, materials rose 6.5% and plant and equipment rose 19.1%.
The rise in building costs has implications for the Ghanaian economy, particularly the construction industry. The slower pace of building cost inflation may be a relief to developers and homeowners. Dr Iddrisu noted that finishing and installation inputs, such as reinforcement and plumbing, are pushing building costs up, while core structural inputs, like cement and steel, are holding them down.
The Ghana Statistical Service (GSS) releases the Prime Building Cost Index monthly, providing insights into the construction industry. The index is used to track changes in building costs and inform decision-making in the industry. The GSS data shows that electrical works alone account for 41.1% of headline building inflation, with reinforcement rising 29.0% and plumbing rising 27.5%.
Dr Iddrisu said the rise in the annual rate mostly reflects prices that fell in September 2025, not a fresh price jump this month. He also noted that labour costs fell 3.2%, which pulled the headline rate down. The GSS data provides valuable insights into the construction industry, helping stakeholders make informed decisions.