Ghana’s inflation rate rises to 3.7% in May

Ghana’s inflation rate for May 2026 recorded a slight uptick, reaching 3.7%, according to the latest Consumer Price Index (CPI) data released by the Ghana Statistical Service.

This marks the second consecutive month of rising inflation, following April’s rate of 3.4%.

Government Statistician, Dr Alhassan Iddrisu, noted that the increase represents a marginal rise of 0.3 percentage points.

The CPI climbed to 270.2 in May 2026, compared to 260.5 during the same period in 2025. On a monthly basis, consumer prices rose by 1.1% between April and May, signaling a gradual increase in the cost of goods and services.

Food and non-alcoholic beverages inflation surged to 3.3% in May, up from 2.2% in April.

Monthly food inflation nearly doubled to 2.0% from 0.8%, indicating mounting household cost pressures.

Non-food inflation eased slightly to 4.1% from 4.2%, suggesting that overall price stability remains relatively contained, with food emerging as the primary driver of the latest increase.

Locally produced items continued to dominate inflationary pressures, recording an annual rate of 5.0% compared to 4.7% in April, and accounting for more than 92% of the overall inflation outcome.

Imported inflation was pegged at 0.9%.

SA