Ghana’s year-on-year inflation rate increased to 5.0% in August 2026, up from 4.6% recorded in July, according to the latest figures from the Ghana Statistical Service (GSS).

The 0.4 percentage-point increase marks the second consecutive monthly rise in inflation, signalling renewed pressure on the country’s disinflation gains. However, the August rate remains 0.5 percentage points lower than the 5.5% recorded in August 2025.

The latest data point to a changing inflation landscape in Ghana, with domestic costs, housing, transport and other services emerging as major sources of price pressure, while inflation for imported items remains relatively low.

Although overall food inflation eased marginally, sharp increases in the prices of selected food items, coupled with rising costs of rent, transport, electricity, education and other essential services, continued to affect household budgets.

Food Inflation Eases Despite Sharp Increases in Some Items

Food and non-alcoholic beverages inflation declined marginally to 3.0% in August from 3.1% in July.

However, the headline food inflation figure masks significant differences in the prices of individual items.

Fresh tomatoes recorded the highest year-on-year price increase, rising by a striking 458.3%.Ginger followed with a 128.3% increase, while shrimp prices rose by 67.1% and mango prices increased by 57.7%.

Other notable increases included:

* Parking space and other services – 40.0%

* Fresh coconut – 38.0%

* Charcoal – 35.6%

* Fresh green pepper – 30.5%**

* Cabbage – 29.8%

The GSS price-mover data, however, also showed significant declines in the prices of several items.

Lime recorded the biggest decline at 33.7%, followed by maize at 31.3%. Cocoyam leaves, sweet apples, fried fish and pawpaw also recorded price reductions of more than 20%.

The divergence highlights the uneven nature of food price movements, with some households benefiting from lower prices for certain staples while paying significantly more for items such as tomatoes, ginger and other fresh produce.

Tomatoes Emerge as Biggest Contributor to Inflation

Fresh tomatoes were not only the item with the highest year-on-year price increase but also the largest contributor to overall inflation in August.

The price-mover data showed that fresh tomatoes accounted for about 21.4% of the total inflation contribution.

Payment for rents followed with 14.7%, while ginger contributed 12.2%.

Other major contributors included:

. Charcoal

* Cooked rice

* Yam

* Public and private secondary school fees

* Bus and trotro fares

* Electricity

* Hotel accommodation

The figures highlight how everyday household expenses, particularly those outside the food basket, are increasingly influencing the overall inflation rate.

Non-food Inflation Remains the Biggest Driver

Non-food inflation increased to 6.8% in August from 6.7% in July and accounted for 70.9% of total inflation, compared with 29.1% for food.

This means that more than two-thirds of the inflationary pressures recorded in August 2026 came from non-food items.

The development is particularly significant because many of the major contributors are essential household expenses, including rent, transport, electricity, education and accommodation.

While food inflation has generally moderated, rising costs in these areas are continuing to put pressure on household incomes and the cost of living.

Housing, Transport and Other Essential Costs Remain Under Pressure

The breakdown of inflation across the major divisions of household spending showed continued pressure in several essential areas.

Housing, water and energy recorded inflation of about 10.2%, while transport inflation stood at 10.5%.

Education services recorded inflation of 6.6%, while clothing and footwear stood at about 8.0%.

Food and beverages recorded about 4.7%, while restaurants and hotels recorded approximately 4.3%.

The figures suggest that price pressures are increasingly concentrated in areas where households have limited room to reduce spending.

Higher costs of housing, utilities, transport and education are therefore likely to remain a major concern for consumers even as overall inflation remains significantly lower than the levels recorded in previous years.

Services Inflation Rises Further

The services inflation increased to 8.6% in August from 8.5% in July, while goods inflation rose to 3.8% from 3.6%.

This means services prices are increasing at more than twice the pace of goods prices.

Insurance, transport, housing and education were among the areas contributing significantly to the rise in services inflation.

The persistence of high services inflation could become an important challenge for policymakers because these costs are largely influenced by domestic factors, including **wages, transport expenses, utility charges, rent and other operating costs.

Unlike imported goods, where exchange-rate stability can help contain price increases, services inflation may require improvements in domestic cost conditions and productivity to moderate sustainably.

Inflation Remains Largely Home-grown

The latest figures further show that Ghana’s inflation is increasingly being driven by domestic rather than imported factors.

Inflation for locally produced items increased to 6.1% in August from 5.9% in July.

Imported inflation, meanwhile, remained significantly lower at 2.2%, compared with 2.1% in July.

Locally produced items and services accounted for 86.2% of total inflation, indicating that domestic cost pressures are playing the dominant role in Ghana’s current inflation dynamics.

The relatively low imported inflation rate suggests that **exchange-rate stability is helping to contain price pressures associated with foreign goods.

However, the rise in locally produced inflation points to the need for greater attention to the cost of domestic production and distribution, including energy, transport, logistics and other business operating expenses.

Prices Decline on Monthly Basis

Despite the rise in annual inflation, the month-on-month figures showed a **1.0% decline in the general price level in August compared with July 2026.

The Consumer Price Index stood at 268.5 in August 2026, compared with 255.7 in August 2025, representing an increase of 12.8 index points over the one-year period.

The combination of a higher year-on-year inflation rate and a decline in the monthly price level suggests that the latest inflation increase should be assessed alongside underlying movements in individual goods and services.

Central Region Records Highest Inflation Rate

At the regional level, the Central Region recorded the highest inflation rate at 11.1%, more than twice the national average of 5.0%.

The Ashanti Region followed with 8.7%, while Greater Accra recorded an inflation rate of 5.0%, in line with the national average.

At the lower end, the Bono East Region recorded the lowest inflation rate at 3.3%, followed by the Volta Region at 3.6% and the Upper East Region at 3.7%.

The significant differences across the regions underline the varying price pressures and cost-of-living conditions being experienced by households across the country.

Outlook

Overall, the August inflation data show that Ghana’s disinflation gains are facing renewed pressure, mainly from domestic costs rather than imported price shocks.

Food inflation has eased and imported inflation remains relatively low, supported by improved exchange-rate conditions. However, higher prices for services, housing, transport, rent, education and selected food items are keeping headline inflation elevated.

The latest figures therefore suggest that sustaining Ghana’s progress in reducing inflation will increasingly depend on addressing home-grown cost pressures**, particularly the rising cost of providing essential services and moving goods and people across the country.