Inflation rises to 5.0% in August 2026

Ghana's year-on-year inflation rate climbed to 5.0% in August 2026, an increase from 4.6% in July. The 0.4 percentage point rise marks two consecutive monthly hikes in inflation, indicating a renewed challenge to the country's disinflation progress. However, the August rate remains 0.5 percentage points below the 5.5% recorded in August 2025.

The data signals a shifting inflation pattern in Ghana, with domestic costs like housing, transport, and services emerging as key contributors to price pressure, while imported items' inflation remains relatively low.

While overall food inflation slightly decreased, substantial price rises for specific food items and essential services continued to impact household budgets. Fresh tomatoes experienced the most significant yearly increase at 458.3%, followed by ginger with a 128.3% increase, shrimp at 67.1%, and mangoes at 57.7%. Other notable hikes included parking space at 40%, fresh coconut at 38%, charcoal at 35.6%, green pepper at 30.5%, and cabbage at 29.8%.

Price cuts were also observed for several commodities, including lime with a 33.7% reduction, maize at 31.3%, cocoyam leaves, sweet apples, fried fish, and pawpaw, each with over 20% declines. Fresh tomatoes were the primary driver of inflation in August, accounting for 21.4% of the total inflation contribution. Rent accounted for 14.7%, while ginger contributed 12.2%. Other significant contributors were charcoal, cooked rice, yam, secondary school fees, bus and trotro fares, electricity, and hotel accommodation.

These figures showcase how everyday household expenses, especially those outside the food basket, are increasingly influencing the overall inflation rate. Non-food inflation rose to 6.8% in August, up from 6.7% in July, accounting for 70.9% of total inflation. Non-food items like housing, transport, electricity, education, and accommodation are key contributors to inflationary pressures, continuing to strain household incomes.

Housing, transport, and essential costs remain under pressure, as price increases in these areas limit households' ability to reduce spending.