Ghana’s annual inflation rate accelerated for a second month to 3.7% in May 2026, from 3.4% in April, reaching its highest level since January. Food and non-alcoholic beverage inflation rose to 3.3% from 2.2%, driving the increase, as higher oil and fertilizer costs linked to the Middle East war and the ongoing effects of climate change weighed on domestic agricultural activity. Meanwhile, non-food inflation edged down slightly to 4.1% from 4.2%. On a monthly basis, the CPI rose by 1.1% in May, up from 1% in the prior month. source: Ghana Statistical Service

Inflation Rate in Ghana increased to 3.70 percent in May from 3.40 percent in April of 2026. Inflation Rate in Ghana averaged 17.04 percent from 1998 until 2026, reaching an all time high of 63.10 percent in March of 2001 and a record low of 0.40 percent in May of 1999. This page provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2026.

Inflation Rate in Ghana increased to 3.70 percent in May from 3.40 percent in April of 2026. Inflation Rate in Ghana is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ghana Inflation Rate is projected to trend around 4.00 percent in 2027 and 3.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-06 10:45 AM
Inflation Rate YoY
Apr 3.4% 3.2% 3.4%
2026-06-03 10:15 AM
Inflation Rate YoY
May 3.7% 3.4% 3.5%
2026-07-02 10:00 AM
Inflation Rate YoY
Jun 3.7% 3.9%


Related Last Previous Unit Reference
Consumer Price Index CPI 270.20 267.30 points May 2026
CPI Housing Utilities 347.80 346.30 points May 2026
CPI Transportation 220.90 221.10 points May 2026
Inflation Rate YoY 3.70 3.40 percent May 2026
Inflation Rate MoM 1.10 1.00 percent May 2026


Ghana Inflation Rate
In Ghana, the most important components in the Consumer Price Index (CPI) are food and non-alcoholic beverages (43 percent of total weight); housing and utilities (10 percent); transport (10 percent) and clothing and footwear (8 percent). The index also includes: education (7 percent); restaurants and accommodations (5 percent); alcoholic beverages, tobacco and narcotics (4 percent); and information and communication (4 percent). Recreation, sports and culture; furniture, household equipment and maintenance; personal care, social protection and miscellaneous goods and services; health; and insurance and financial services account for the remaining 9 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.40 63.10 0.40 1998 - 2026 percent Monthly
2021=100

News Stream
Ghana Inflation Rate Up to 4-Month High in May
Ghana’s annual inflation rate accelerated for a second month to 3.7% in May 2026, from 3.4% in April, reaching its highest level since January. Food and non-alcoholic beverage inflation rose to 3.3% from 2.2%, driving the increase, as higher oil and fertilizer costs linked to the Middle East war and the ongoing effects of climate change weighed on domestic agricultural activity. Meanwhile, non-food inflation edged down slightly to 4.1% from 4.2%. On a monthly basis, the CPI rose by 1.1% in May, up from 1% in the prior month.
2026-06-03
Ghana Inflation Rate Quickens to 3.4% in April
Ghana’s annual inflation rate inched up to 3.4% in April 2026 from 3.2% in March. Non-food inflation accelerated to 4.2% from 3.9%, largely on account of fuel prices, while food and non-alcoholic beverage inflation eased to 2.2% from 2.3% in March. On a monthly basis, the CPI rose by 1%, the strongest increase since February 2025, after a 0.1% increase the month before.
2026-05-06
Ghana Inflation Rate Continues to Slow
Ghana’s annual inflation rate eased to 3.2% in March 2026 from 3.3% in February, sustaining a 15-month downward trend. This was the lowest reading since the 2021 rebasing, as the cedi has maintained stability, helping to curb price growth. Prices moderated slightly for both food (2.3% vs 2.4% in February) and non-food products (3.9% vs 4%). Inflation for domestically produced goods rose to 4.9% in March from 4.5% in February. Meanwhile, prices for imported goods fell by 0.6%, after a 0.6% rise in February, likely reflecting favorable exchange rate effects. On a monthly basis, the CPI rose by 0.1%, after increasing by 0.8% in the previous month.
2026-04-01