Ghana’s inflation rises slightly to 5% in August -

Ghana’s year-on-year inflation rate rose to 5% in August 2026, from 4.6% in July. The rate, however, remained 6.5 percentage points lower than the 11.5% recorded in August 2025, reflecting a significant decline in annual inflation over the period.

Dr Alhassan Iddrisu, Government Statistician, said the month-on-month inflation rate was negative 1%, indicating that average prices fell in August compared with July.

Presenting the August Consumer Price Index (CPI) in Accra, he said food inflation eased marginally to 3% in August from 3.1% in July, while non-food inflation increased to 6.8% from 6.3%.

Goods inflation rose to 3.8% from 3.4%, while services inflation increased slightly to 8.6% from 8.5%.
“The data showed that services continued to be the largest source of price pressures in the economy, growing more than twice as fast as goods.

“About 71% of total inflation originated from non-food items, including transport, housing, rent, education and other services, while food accounted for 29%,” he said.

Dr Iddrisu said locally produced goods and services recorded inflation of 6.1%, compared with 2.2% for imported items.

He said the figures reflected the growing influence of domestic costs on overall inflation. Housing, water, electricity, gas and other fuels remained the largest contributor to headline inflation, accounting for 29.5% of the rate, he said.

Food and non-alcoholic beverages contributed 29.1%, while transport accounted for 13.2%.
Education services and restaurants and hotels contributed 7.5% and 4.8 % respectively.

Regionally, the Central Region recorded the highest inflation rate of 11.1% in August, while the Bono East Region recorded the lowest at negative 3.3%. Greater Accra recorded an inflation rate of 5%, while the Ashanti Region recorded 8.7%.