Overall cost pressures in construction are easing - Government Statistician

The Government Statistician, Alhassan Iddrisu, has announced that Ghana’s building inflation rate continued its downward trend in March 2026, falling to 2.2 percent year-on-year. According to him, this marks the eleventh consecutive month of decline, signaling a sustained easing of cost pressures within the construction sector.

Speaking at a press conference organized by the Ghana Statistical Service in Accra on Wednesday, April 29, Dr. Iddrisu explained that the consistent drop in inflation reflects improved stability in the prices of key construction inputs over the past year.

Despite the year-on-year decline, he pointed out that there are still short-term price pressures within the sector. Month-on-month data showed that building costs increased by 0.8 percent between February and March 2026, indicating that certain components—particularly construction materials and equipment—continue to experience price hikes.

“What this tells us is simple: overall cost pressures in construction are easing, but some inputs, especially materials and equipment, continue to push prices up,” he stated.

Dr. Iddrisu noted that the current trend presents an important opportunity for policymakers, businesses, and households to make informed decisions. Lower inflation in the building sector could encourage investment in construction projects, improve housing affordability, and support broader economic planning if the trend is sustained.

He further emphasized the importance of reliable data in guiding economic decisions, stating that timely and accurate statistics are essential for tracking market developments and responding effectively to emerging challenges.

The Government Statistician expressed appreciation to industry stakeholders, including market participants and data providers, for their continued cooperation in supplying relevant information. He also acknowledged the role of field officers—referred to as market readers—whose efforts contribute significantly to the data collection process.

In addition, he commended the staff of the Ghana Statistical Service for their dedication and professionalism, noting that their work ensures the production of credible and high-quality statistics that inform national development.

The latest figures are expected to influence planning across the construction and real estate sectors, as stakeholders monitor whether the downward inflation trend will continue in the coming months.