Ghana’s Prime Building Cost Index (PBCI), which measures prices of key inputs such as building materials, labor, and equipment used in the construction industry, slumped by 8.7 percentage points to 9.7 percent in September compared with 18.4 percent over the same period last year, said the Ghana Statistical Service (GSS) on Friday.
Government Statistician Alhassan Idrissu said during the presentation that the September figure was also 2.3 percentage points lower than the 12 percent recorded a month earlier.
“Overall, the prices of building inputs decreased by 0.4 percentage points between August and September 2025, with a continuous monthly decline since June 2025,” Iddrisu disclosed.
Compared to August, inflation for labor, materials, and plants slowed to 15.1 percent, 8.4 percent, and 8.2 percent, from 15.7 percent, 11.1 percent, and 10.8 percent, respectively, during September.
“At the subgroup level, Steel recorded the highest inflation of 19.0%, while Reinforcement recorded the lowest inflation of -4.9 percent,” he added.
The World Bank estimates that Ghana is saddled with an annual housing deficit of approximately 2 million, and Only 33 percent of the country’s housing need is delivered annually.
It added that an oversupply of luxury accommodation targeted at high income earners and a persistent shortage of low income housing persists.