Ghana’s year-on-year inflation rate increased to 5.0 per cent in August 2026, up from 4.6 per cent recorded in July, according to the latest figures from the Ghana Statistical Service.
The 0.4 percentage-point increase marks the second consecutive monthly rise in inflation, signalling renewed pressure on the country’s disinflation gains. However, the August rate remains 0.5 percentage points lower than the 5.5 per cent recorded in August 2025.
The data point to a changing inflation landscape, with domestic costs, housing, transport and other services emerging as major sources of price pressure, while inflation for imported items remains relatively low.
Non-food inflation increased to 6.8 per cent in August from 6.7 per cent in July and accounted for 70.9 per cent of total inflation, compared with 29.1 per cent for food. This means more than two-thirds of inflationary pressures came from non-food items.
Services inflation rose to 8.6 per cent from 8.5 per cent in July, while goods inflation increased to 3.8 per cent from 3.6 per cent. Services prices are now increasing at more than twice the pace of goods prices.
Food and non-alcoholic beverages inflation declined marginally to 3.0 per cent in August from 3.1 per cent in July. However, the headline figure masks significant differences in the prices of individual items.
Fresh tomatoes recorded the highest year-on-year price increase, rising by 458.3 per cent, accounting for about 21.4 per cent of the total inflation contribution. Ginger followed with a 128.3 per cent increase, while payment for rents contributed 14.7 per cent.
Other notable increases included parking space and other services at 40.0 per cent, fresh coconut at 38.0 per cent, charcoal at 35.6 per cent and fresh green pepper at 30.5 per cent.
The breakdown of inflation across major divisions showed continued pressure in essential areas. Housing, water and energy recorded inflation of about 10.2 per cent, while transport inflation stood at 10.5 per cent. Education services recorded 6.6 per cent, while clothing and footwear stood at about 8.0 per cent.
The latest figures further show that Ghana’s inflation is increasingly being driven by domestic rather than imported factors. Inflation for locally produced items increased to 6.1 per cent in August from 5.9 per cent in July, while imported inflation remained significantly lower at 2.2 per cent. Locally produced items and services accounted for 86.2 per cent of total inflation.
At the regional level, the Central Region recorded the highest inflation rate at 11.1 per cent, more than twice the national average. The Ashanti Region followed with 8.7 per cent, while Greater Accra recorded 5.0 per cent, in line with the national average. Bono East recorded the lowest rate at 3.3 per cent.
Despite the rise in annual inflation, the month-on-month figures showed a 1.0 per cent decline in the general price level in August compared with July. The combination suggests that sustaining Ghana’s progress in reducing inflation will increasingly depend on addressing home-grown cost pressures, particularly the rising cost of essential services.
