Ghana’s Inflation Climbs to 5% as Non-Food Prices Drive Fresh Surge

Ghana’s inflation rate has climbed to 5.0% as rising non-food prices put fresh pressure on households, signalling a renewed challenge to the country’s recent disinflation gains.

The latest figures from the Ghana Statistical Service (GSS) show that year-on-year inflation increased from 4.6% in July to 5.0% in August 2026, representing a 0.4 percentage-point rise.

The increase marks the second consecutive monthly rise in inflation and comes despite the rate remaining below the 5.5% recorded in August 2025.

Non-Food Prices Lead the Pressure

Non-food inflation emerged as the biggest driver of the August increase, rising to 6.8%, while food inflation eased slightly to 3.0% from 3.1% in July.

Non-food items accounted for 70.9% of total inflation, compared with 29.1% for food.

The figures indicate that the latest inflationary pressure is increasingly being generated outside the food sector, particularly through services and essential household expenses.

Housing and Transport Remain Major Concerns

The latest data point to continued price pressures in key areas of household expenditure.

Inflation for housing, water and energy stood at about 10.2%, while transport inflation reached 10.5%. Education services recorded inflation of 6.6%, with clothing and footwear at about 8.0%.

Services inflation also increased to 8.6%, compared with 8.5% in July, while goods inflation rose from 3.6% to 3.8%.

Tomatoes Record Huge Price Jump

Some individual products recorded dramatic price increases during the period.

Fresh tomatoes registered a staggering 458.3% year-on-year increase, making them the biggest price mover in the latest inflation basket. Ginger followed with a 128.3% increase.

Rent payments also made a significant contribution to overall inflation, while other notable increases were recorded for parking services, fresh coconut, charcoal and fresh green pepper.

Locally Produced Items Drive Inflation

Another major takeaway from the latest figures is the dominance of domestic price pressures.

Inflation for locally produced items increased to 6.1%, while imported inflation remained considerably lower at 2.2%. Locally produced goods and services accounted for 86.2% of total inflation.

This suggests that Ghana’s current inflation challenge is increasingly being driven by factors within the domestic economy rather than imported price pressures.

A Mixed Picture for Consumers

Despite the increase in annual inflation, the monthly picture offers some relief.

The general price level fell by 1.0% in August compared with July, even as the year-on-year inflation rate increased.

The development highlights the complex nature of Ghana’s current inflation environment: annual price pressures are rising, but monthly prices recorded a decline.

Inflation Fight Faces Fresh Test

The latest figures will likely intensify attention on the government’s efforts to maintain the progress made in bringing inflation down.

With non-food prices, transport, housing and services emerging as key sources of pressure, policymakers may face increasing calls to tackle domestic cost drivers.

For households, however, the headline figure carries a simple message: Ghana’s inflation battle is not over.

After months of significant disinflation, the rise to 5.0% shows that maintaining price stability could prove more difficult as domestic cost pressures continue to build.