Ghana’s headline inflation rose to 3.7% in May 2026, up from 3.4% in April, reflecting a modest monthly uptick in consumer prices even as the broader disinflation trend remains intact, the Ghana Statistical Service has reported.
Presenting the figures, Government Statistician Dr. Alhassan Iddrisu noted that the latest reading represents a continuation of “steady, hard-won progress towards stability,” particularly when compared with the 18.4% recorded in May 2025. The year-on-year comparison points to a significant easing of inflationary pressures over the past 12 months.
However, the Service cautioned that recent movements show renewed short-term pressure, with prices increasing by 1.1% between April and May 2026. Iddrisu described this as a “gentle reminder that vigilance is still needed,” following two successive small upticks since late 2024.
Food inflation remained a key driver of the monthly movement, rising to 3.3% from 2.2% in April, while non-food inflation eased marginally to 4.1%. Food and non-alcoholic beverages continue to account for a significant share of household spending, making price changes in this segment particularly sensitive for consumers.
Services inflation, which includes housing, transport, and education, remained elevated relative to goods, reinforcing concerns about cost pressures in the services economy even as goods inflation stayed relatively contained.
The data highlights a mixed inflation environment, characterised by long-term easing, but with short-term volatility still present in key consumer categories.
