Inflation rises to 5.2% in September 2026 as prices in Services sector still high

Ghana's inflation rate climbed to 5.2% in September 2026, up from 5.0% in August, marking a shift from the downward trend seen in earlier months. The Ghana Statistical Service (GSS) reported that while the recent rise is modest, it remains far below the 9.4% inflation rate seen in September 2025. Over the month, prices increased by 1.1%.

The increase was primarily due to non-food items, which saw a 6.2% inflation rate. Food items, on the other hand, experienced inflation at 4.0%. Non-food items constituted 63.3% of the total inflation, while food contributed 36.7%. The services sector continued to exert pressure on inflation, with a rate of 8.3%, nearly double the 4.2% rate for goods. Housing, water, and energy prices also rose, reaching 10.3%, while restaurants and hotels saw a 9.2% increase.

Interestingly, inflation is increasingly being driven by domestic factors. Locally produced goods saw an inflation rate of 6.4%, compared to just 2.4% for imported items. Locally produced items accounted for 85.7% of total inflation. Regionally, Ashanti experienced the highest inflation at 9.8%, followed by Eastern at 7.8%. Greater Accra had an inflation rate of 3.4%, while Western recorded a decline of -0.5%.

Certain food items saw significant price hikes. Fresh tomatoes surged by 153.4%, ginger by 100.4%, while lime prices dropped by 29.9% and maize by 26.4%. Despite the overall decline in inflation by 4.2 percentage points over the past year, the latest increase underscores persistent domestic price pressures, particularly in the services sector.