Ghana’s inflation has inched upward for the second consecutive month, climbing to 3.7% in May 2026 from 3.4% in April. This is according to the latest figures released by the Ghana Statistical Service (GSS). The rise, though modest, is being felt in households across the country, with food and services driving the increase.
According to the latest inflation data, food inflation rose from 2.2% in April to 3.3% in May, pushed by higher prices for tomatoes, plantain, fish, ginger, and rice. Services inflation also remained elevated at 9.9%, with rents, school fees, and utility charges continuing to weigh heavily on families. Non-food inflation eased slightly to 4.1%, but the overall picture points to persistent cost pressures despite broader macroeconomic stability.
The Government Statistician Dr. Alhassan Iddrisu explained that while headline inflation is far lower than the 18.4% recorded in May 2025, the monthly increases show that households are still grappling with rising expenses. He emphasized the need for close monitoring of food supply chains and fiscal discipline to sustain stability.
Regional disparities remain stark. The North East Region recorded the highest inflation at 10.1%, while the Savannah Region experienced deflation at -3.0%, underscoring uneven market conditions across the country. Locally produced goods accounted for 92% of inflationary pressure, rising to 5.0%, while imported goods remained subdued at 0.9%.
For many Ghanaians, the numbers are more than statistics. Rising food costs are straining household budgets, particularly in urban centers like Accra, while services inflation continues to bite. Analysts warn that unless policymakers strengthen local food systems and market infrastructure, the upward trend could persist, eroding consumer confidence.
The inflation data comes at a time when the government is touting economic stability following the completion of the IMF Extended Credit Facility programme. Yet, as critics like Kojo Oppong Nkrumah have argued in Parliament, stability means little if it does not translate into jobs and relief for ordinary citizens. The inflation uptick adds another layer to that debate, highlighting the gap between macroeconomic indicators and everyday realities.
