Ghana Statistical Service reports inflation rose to 5.2% in September

The Ghana Statistical Service (GSS) has announced that the national year-on-year inflation rate for September 2026 rose slightly to 5.2%, up from 5.0% recorded in August. While this represents a marginal month-on-on increase, the current rate remains significantly lower than the 9.4% recorded during the same period in 2025. According to the Government Statistician, the current figure remains below the Bank of Ghana's target range, reflecting a period of relative price stability compared to the previous year.

The primary drivers of inflation during the month included significant price hikes for specific food items and essential services. Fresh tomatoes recorded a staggering year-on-year price increase of 153.4%, contributing 20.3% to the overall inflation figure. Other major contributors were rent payments, which saw a 13.9% rise, and ginger, which doubled in price with a 100.4% increase. The data highlights a stark contrast between goods inflation, which stood at 4.2%, and services inflation, which was nearly double at 8.3%.

Domestic factors continue to dominate Ghana's inflationary landscape, with local items accounting for approximately 86% of the total inflation recorded in September. The GSS report also noted significant regional disparities in price movements. The Ashanti Region recorded the highest inflation rate at 9.8%, followed closely by Greater Accra, both of which heavily influenced the national average. In contrast, the Western Region experienced a slight deflationary trend, recording an inflation rate of -0.5%.

In light of these figures, the GSS emphasized the importance of addressing food supply chain pressures to manage the volatility seen in commodities like tomatoes and ginger. While the Consumer Price Index reached 271.5 with a month-on-month inflation of 1.1%, the overall downward trend from the previous year offers some potential relief for household financial management. Policymakers and businesses are encouraged to utilize this official data to inform pricing strategies and economic interventions moving forward.