Ghana’s year-on-year inflation rate increased to 5.3% in June 2026, up from 3.7% in May, marking the third consecutive monthly rise, according to the latest inflation data.
Although the current inflation rate remains significantly lower than the 13.7% recorded in June 2025, the continued upward trend suggests mounting price pressures in parts of the economy.
The June figures reveal wide disparities in price movements across commodities and regions. While the price of ginger surged by 102.5% over the past year, kontomire recorded a 38% decline.
Regional inflation also varied considerably, with the North East Region recording the highest rate at 10.2%, while Bono East Region experienced -4.4%, indicating an overall decline in prices.
On a month-on-month basis, consumer prices increased by 0.2% between May and June, slowing from the 1.1% recorded a month earlier. The moderation suggests that while prices continue to rise, the pace of monthly increases has eased.
The data further indicate that inflation in June was largely driven by domestic factors. Prices of locally produced goods increased by 6.7 per cent, accounting for 86.6 per cent of overall inflation, compared with 2.3 per cent for imported goods.
This suggests that inflationary pressures are increasingly linked to local item production, transportation and supply chain challenges rather than exchange rate movements.
The composition of inflation also continued to shift during the period. Services inflation rose to 9.4 per cent, significantly higher than goods inflation of 3.7 per cent.
Transport emerged as the second-largest contributor to inflation after food, with prices increasing by 9.1 per cent, largely driven by higher bus and commercial transport fares.
Government Statistician, Dr. Alhassan Iddrisu noted that increasingly, the cost- of-living pressure is tilting more towards services from the goods on the shelf.
