Ghana’s inflation rate rose marginally to 5.2% in September 2026, up from 5.0% in August, bringing an end to the downward trend recorded in recent months.
According to the latest data from the Ghana Statistical Service (GSS), however, the September rate remains significantly below the 9.4% recorded in September 2025.
Month-on-month inflation stood at 1.1%, meaning average prices increased by 1.1% between August and September 2026.
Non-Food Items Drive Inflation
The latest increase was largely driven by non-food items, which recorded an inflation rate of 6.2%, compared with 4.0% for food items.
Non-food items accounted for 63.3% of total inflation, while food contributed the remaining 36.7%.
The services sector remained a major source of price pressure, recording inflation of 8.3%, nearly twice the 4.2% recorded for goods.
Within the services category, housing, water and energy recorded inflation of 10.3%, while restaurants and hotels recorded 9.2%.
Domestic Prices Remain Key Pressure Point
The GSS data indicate that inflation is increasingly being driven by domestic factors.
Inflation for locally produced items stood at 6.4%, significantly higher than the 2.4% recorded for imported items.
Locally produced goods and services accounted for 85.7% of total inflation, highlighting the dominant role of domestic price pressures in the September figure.
Ashanti Records Highest Regional Inflation
At the regional level, Ashanti recorded the highest inflation rate at 9.8%, followed by the Eastern Region at 7.8%.
Greater Accra recorded inflation of 3.4%, while the Western Region recorded the lowest rate at -0.5%.
Some food commodities recorded substantial year-on-year price increases. Fresh tomatoes rose by 153.4%, while ginger increased by 100.4%.
In contrast, lime prices fell by 29.9%, while maize prices declined by 26.4%.
Inflation Remains Well Below 2025 Level
Despite the marginal increase in September, the GSS said inflation has declined by 4.2 percentage points over the past year, falling from 9.4% in September 2025 to 5.2% in September 2026.
The latest figures nevertheless point to continued domestic price pressures, particularly within the services sector, even as overall inflation remains considerably lower than it was a year ago.
