Ghana’s construction sector began 2026 on a slightly steadier note, as building cost inflation eased to 3.9 per cent in January, down from 4.4 per cent in December 2025.
New data from the Ghana Statistical Service shows that the Prime Building Cost Index rose to 132.4 in January 2026, up from 127.4 recorded in January 2025.
The latest figures mark the ninth consecutive month of declining year on year inflation in the construction space.
Despite the moderation on an annual basis, costs still inched up month on month. Between December 2025 and January 2026, the index increased by 1.1 per cent.
Labour played a key role in the slowdown. Year on year labour inflation fell sharply to 5.4 per cent in January from 10.7 per cent in December.
Every month, labour costs dropped by 4.1 per cent, offering some relief to contractors and property developers navigating tight project budgets.
Plant and equipment costs also recorded slower annual growth at 4.2 per cent, compared to 5.6 per cent in December, although they rose by 2.9 per cent over the previous month.
Material costs, however, showed renewed pressure. Materials inflation climbed to 3.5 per cent year on year in January, up from 2.7 per cent in December, with a 2.3 per cent monthly increase.
Surface finishes recorded the highest annual rise at 10.8 per cent, while cement prices declined by 6.6 per cent compared to the same period last year.
The figures suggest that while easing labour costs are helping to stabilise the sector, rising material prices could test construction budgets in the months ahead.
