Ghana’s inflation story in September was driven more by what people pay for outside the food market, with non-food items accounting for 63.3% of total inflation, according to the Ghana Statistical Service (GSS).
Food accounted for the remaining 36.7%, meaning nearly two-thirds of the price pressure recorded in September came from non-food items.
The biggest contribution came from housing, water, electricity, gas and other fuels, which accounted for 25.6% of overall inflation. The category recorded an inflation rate of 10.3%.
That makes household running costs a significant part of the inflation picture, even as food inflation remained relatively lower at 4.0%.
Other areas also recorded notable price increases.
Insurance and financial services recorded inflation of 9.4%, while restaurants and hotels recorded 9.2%. Inflation in recreation and culture stood at 6.6%, while transport recorded 5.7%.
Education services also remained a source of price pressure, although inflation in the category eased to 5.7% from 9.3% in August.
The numbers show why a single inflation rate can feel different from one household or business to another. A consumer whose spending is concentrated on housing, utilities, transport and services may experience a very different change in monthly expenses from the national average of 5.2%.
The pattern is also reflected in the wider difference between goods and services. Services inflation stood at 8.3% in September, compared with 4.2% for goods, showing that service-related costs remain considerably higher than the prices of goods.
With non-food items accounting for 63.3% of September’s inflation, the path of prices in the months ahead will depend increasingly on whether these broader costs begin to ease.
