Ghana's inflation rate has increased to 5.2% in September 2026, up from 5.0% recorded in August, the Ghana Statistical Service (GSS) announced on Wednesday, October 7. This represents a significant decline from the 9.4% recorded in September 2025. The GSS attributed the increase to a 1.1% rise in prices between August and September 2026, reversing the 1.0% month-on-month decline recorded in August.
The September 2026 inflation rate was presented by Government Statistician, Dr Alhassan Iddrisu, during the release of the Consumer Price Index (CPI) and rate of inflation. Dr Iddrisu clarified that the latest figures do not indicate a fall in prices but rather a slowdown in the pace of price increases. He emphasized that services continued to record significantly higher inflation than goods, with services inflation reaching 8.3% in September, compared with 4.2% for goods.
According to the GSS, locally produced items accounted for 85.7% of inflation, while imported items recorded an inflation rate of 2.4%. Fresh tomatoes and rent were identified as major contributors to the September inflation rate, accounting for 20.3% and 13.9% respectively. This highlights the impact of staple food prices and housing costs on the overall inflation rate.
Regional inflation rates varied significantly, with Ashanti recording the highest rate at 9.8%, while the Western Region recorded a negative inflation rate of -0.5%. The Government Statistician noted that these regional variations could help policymakers target support to areas experiencing higher price pressures. This regional breakdown can inform policy decisions aimed at mitigating the effects of inflation.
Dr Iddrisu urged businesses and households to use official GSS inflation figures when making pricing, budgeting, and other economic decisions. He emphasized the importance of relying on accurate and reliable data to inform economic choices. By using official inflation figures, stakeholders can make more informed decisions that reflect the current economic reality.
The GSS's announcement provides valuable insights into Ghana's economic trends. The slowdown in inflation from 9.4% in September 2025 to 5.2% in September 2026 suggests that previous economic interventions may be yielding positive results. However, the persistence of higher services inflation and regional disparities in inflation rates require continued monitoring and policy attention.
The September 2026 inflation rate of 5.2% is a crucial indicator of Ghana's economic performance. As the country continues to navigate economic challenges, the GSS's data will play a vital role in shaping policy decisions and business strategies. Stakeholders will be closely watching future inflation trends to assess the effectiveness of economic policies and their impact on the country's economic stability.
Key points
- Ghana's inflation rate increased to 5.2% in September 2026, up from 5.0% in August.
- Services inflation reached 8.3% in September, significantly higher than goods inflation at 4.2%.
- Regional inflation rates varied, with Ashanti at 9.8% and the Western Region at -0.5%.
