Ghana Inflation Rate Hits 6-Month Peak

The annual inflation rate in Ghana soared to 5.3% in June 2026 from 3.7% in the prior month, reaching its highest level since December 2025. Price growth accelerated for both non-food products (6.3% vs 4.1% in May) and food (3.9% vs 3.3%). On a monthly basis, the CPI rose by 0.2% in June, following a 1.1% advance in the month before.

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.

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.