RFA Breakfast Paper - September 16, 2026
Ghana’s Producer Price Inflation Rises to 4.4%
Ghana’s Producer Price Inflation (PPI) rose to 4.4% in August 2026, indicating a modest increase in upstream price pressures. Although the latest reading remains well below the long-term average of 16.3%, it is significantly above the record low of 1.3% recorded in November 2025, suggesting that producer cost pressures have begun to firm from their recent lows. The latest increase remains substantially below the historical peak of 78.1% recorded in November 2022, indicating that producer-price pressures are currently contained compared with the extreme inflationary environment of 2022. Overall, the relatively low PPI suggests limited near-term pipeline pressure on consumer prices, supporting the broader disinflation trend in Ghana.
Fed Hikes Rates, Yields Hit 2007 High
U.S. equities finished lower after the Federal Reserve raised its policy rate by 25 basis points to a 3.75%-4.00% range, its first hike in three years, and signalled at least one more increase in 2026, with Chair Kevin Warsh stressing that inflation remains “too high.” The hawkish message pushed the 10-year Treasury yield above 5% for the first time since 2007. The Dow fell about 1.2%, roughly 600 points, and the S&P 500 lost 0.45% to 7,551.81, while the Nasdaq closed near flat at 25,978.43, cushioned by gains in chipmakers Intel and SK Hynix on partnership reports.
NGX Extends Gains as ASI Rises 0.20%
The Nigerian Exchange extended its advance, with the All-Share Index rising 0.20% to 244,791.79 and market capitalisation adding about ₦315 billion to ₦158.7 trillion. The gain built on the previous session's 0.41% rise, keeping the market firm even as momentum cooled from the prior day. Banking stocks edged up, lifting the NGX Banking Index 0.20% to 2,553.08, while the NGX 30 gauge of large caps outperformed with a 0.45% advance to 8,989.03. Turnover was active at 662.35 million shares across 63,167 deals, with Sterling Financial Holdings, AIICO Insurance and Fidelity Bank leading volumes. Sovereign Trust Insurance and Champion Breweries topped the gainers, while IMG and John Holt led the decliners.
