Inflation on locally produced items rose to 5.0% in May 2026, up from 4.7% in April, reinforcing their role as the main source of price pressures in Ghana’s economy, according to the Ghana Statistical Service.
Government Statistician Dr. Alhassan Iddrisu indicated that imported inflation remained comparatively subdued at 0.9%, despite a slight increase from 0.5% in April. He noted that the structure of the consumer basket means locally produced goods account for “the overwhelming share of inflation,” given their dominance in household consumption.
With locally produced items representing more than two-thirds of the inflation basket, they continue to drive the broader price level, contributing an estimated 92% of total inflation dynamics. This underscores what Iddrisu described as a “home-grown story” of inflationary pressure, largely anchored in domestic production costs.
The data further shows that food items, which form a significant portion of locally produced goods, remain central to recent price movements, with increases in food inflation contributing to upward pressure in the overall index.
By contrast, imported goods have seen relatively mild price movements, suggesting that external cost pressures are currently less significant than domestic factors.
The latest figures point to a divergence between domestic and external inflation drivers, with policy attention likely to remain focused on structural cost pressures within local production and distribution systems.
