Inflation rises to 5.3% in June, driven by higher food and transport costs

Ghana’s year-on-year inflation rate rose to 5.3% in June 2026, up from 3.7% in May, marking a 1.6 percentage point increase largely driven by rising non-food prices, according to the Ghana Statistical Service (GSS).

Despite the increase, inflation remains significantly lower than the 13.7% recorded in June 2025, indicating that price pressures are still easing compared to the same period last year.

Data released by the GSS showed that the Consumer Price Index (CPI) increased to 270.8 in June from 257.3 in the corresponding period last year. On a month-on-month basis, inflation slowed to 0.2%, down from 1.1% in May, suggesting that while prices continued to rise, the pace of increase moderated.

Non-food inflation remained the main driver of overall price increases, climbing to 6.3% from 4.1% in May and accounting for 68.5% of total inflation.

Food inflation also edged up, rising to 3.9% from 3.3% the previous month.

The data further showed that locally produced items recorded a year-on-year inflation rate of 6.7%, up from 5.0% in May, contributing 86.6% of headline inflation. In contrast, inflation for imported goods rose to 2.3% from 0.9%.

Services continued to experience stronger price growth than goods. Services inflation stood at 9.4%, although it eased slightly from 9.9% in May. Goods inflation, however, increased sharply to 3.7% from 1.4%.

Regionally, the North East Region recorded the highest inflation rate in June at 10.2%, while the Bono East Region posted the lowest inflation rate at -4.4%, reflecting a decline in average prices over the period.

The latest figures suggest that although inflation has ticked upward after several months of moderation, Ghana continues to maintain relatively low inflation compared to the same period last year. Economists will be watching closely to see whether the June increase signals the beginning of renewed price pressures or a temporary adjustment driven by non-food items