Ghana’s inflation dynamics in May 2026 were largely shaped by food prices, locally produced goods, and uneven regional price developments, according to the Government Statistician Dr. Alhassan Iddrisu.

Addressing journalists on June 3, 2026, he explained that locally produced items accounted for about 92% of total inflation, underscoring the dominance of domestic supply conditions in shaping price movements.

"This is largely a homegrown story. Locally produced items account for about 92% of inflation in May," he said.

Food inflation rose to 3.3%, driven by a 2% month-on-month increase in food prices, making it the most significant contributor to headline inflation.

At the same time, non-food inflation remained relatively subdued at 4.1%, compared with 4.2% in April.

Dr. Iddrisu noted that services such as housing, rent, and education continue to rise faster than goods, adding pressure to household budgets.

"Rent payments contributed 11.8%, fresh tomatoes 11.4%, secondary school fees 9.3%, and green plantain 9.3%," he stated, highlighting the key components shaping inflation.

The statistical breakdown also revealed significant disparities across regions, with some areas recording double-digit inflation while others experienced price declines.

He emphasised that transport costs provided a moderating effect on overall inflation, helping to offset sharper increases in food prices.

"Transport acted as a brake, putting inflation down as fuel and fare prices stayed below last year's levels," he said.

Dr. Iddrisu concluded that while inflation remains relatively low by historical standards, policymakers must focus on food systems, local supply chains, and regional disparities to sustain stability.