A sharp decline in cement prices is helping to ease construction cost pressures in Ghana, according to the latest data from the Ghana Statistical Service.
The March 2026 Prime Building Cost Index (PBCI) report shows that cement recorded the lowest year-on-year inflation rate among all construction sub-groups, contracting by 8.3 percent.
“The sub-group Cement recorded the lowest year-on-year inflation rate of -8.3 percent,” the report noted, highlighting a significant shift in the pricing of one of the sector’s most essential materials.
The drop comes as overall building cost inflation slowed to 2.2 percent year-on-year, suggesting that lower cement prices are helping to moderate broader construction expenses.
However, the report indicates that price trends remain uneven across the industry. While cement costs declined, other components—particularly finishing materials—continue to rise.
Glazing, for instance, recorded the highest inflation rate at 11.9 percent, reflecting sustained cost pressures in specialised materials.
“Twelve out of the 23 sub-groups recorded inflation above the national average of 2.2 percent,” the GSS stated, pointing to persistent increases in several areas despite the overall slowdown.
The data suggests that although core structural inputs like cement are becoming more affordable, developers and contractors may not experience uniform cost relief, especially on projects requiring higher-end finishing materials.
Even so, the decline in cement prices is expected to provide some relief for large-scale housing and infrastructure developments, where the material constitutes a significant portion of total costs.
The PBCI, which tracks changes in the prices of key construction inputs—including materials, labour, and equipment—continues to serve as a vital benchmark for industry players navigating Ghana’s evolving construction landscape
