The Ghana Statistical Service (GSS) is urging policymakers, commercial businesses, and labor unions to anchor long-term planning, contract pricing, and wage negotiations on official consumer price data after annual inflation rose slightly to 5.0% in August 2026.
Presenting the latest Consumer Price Index (CPI) figures in Accra on Wednesday, Government Statistician Dr. Alhassan Iddrisu outlined strategic recommendations for key national stakeholders as the country navigates a low-inflation environment.
Annual consumer price growth picked up from 4.6% in July, yet it remains significantly below the 11.5% recorded in August 2025 and well within the Bank of Ghana’s medium-term target band of 8% ± (plus or minus) 2 percentage points. On a month-on-month basis, prices actually declined by 1.0% relative to July, driven by seasonal easing in domestic food costs.
Addressing market participants and employers, the statistical service recommended that businesses structure commercial contracts and price goods using the official 5.0% rate rather than speculative estimates. GSS emphasized that labour organisations should align wage negotiations with current data, noting that slowing food inflation, which dropped to 3.0% year-on-year, is giving households room for real income recovery.
For monetary policy authorities, GSS noted that headline inflation running below the central bank’s target floor opens up room for policy actions that support broader economic expansion, though sticky services inflation running at 8.6% warrants continued caution.
The GSS also called on government ministries to deploy targeted fiscal relief and social interventions to high-cost areas. Regional price trends varied sharply, ranging from 11.1% inflation in the Central region to a 3.3% price drop in Bono East, with Ashanti and Greater Accra jointly driving nearly 64% of national inflation.
With locally produced items driving 86.2% of total inflation while imported price growth stayed muted at 2.2% due to exchange rate stability, GSS urged policymakers to sustain supply-side interventions targeting domestic cost pressures in transport, housing, and energy.
