Food Costs Push Ghana Inflation Higher to 3.7 Percent in May 2026 | Ghana’s inflation rate rose to 3.7 percent in May 2026 from 3.4 percent in April, according to the Ghana Statistical Service. The increase marks the second straight monthly rise after 15 months of steady decline. The Service released the data on Wednesday, June 3, 2026. The Consumer Price Index stood at 270.2 in May 2026. It is compared with 260.5 in May 2025. Prices increased by 1.1 percent between April and May 2026.
Government Statistician Dr. Alhassan Iddrisu presented the figures in Accra. He said inflation dropped from 18.4 percent in May 2025 to 3.7 percent in May 2026. He described the trend as progress toward stability. Dr. Alhassan Iddrisu also noted a 0.3 percentage point rise from April. He called for close monitoring of price movements.
Food Prices Drive Inflation
Food and non-alcoholic beverages pushed inflation higher. It rose to 3.3 percent in May from 2.2 percent in April. Food prices increased by 2.0 percent month-on-month. Non-food inflation dropped slightly to 4.1 percent from 4.2 percent. Non-food prices still rose by 0.4 percent month-on-month. Goods inflation increased to 1.4 percent from 1.1 percent. Goods account for most of the CPI basket.
Services inflation rose to 9.9 percent from 9.6 percent. Locally produced items recorded 5.0 percent inflation. Imported items rose to 0.9 percent from 0.5 percent.
Regional Inflation Gaps Persist
North East Region recorded the highest inflation at 10.1 percent. Savannah Region recorded -3.0 percent inflation. Prices fell in that region. Eight regions exceeded the national average of 3.7 percent. Ashanti contributed 34.9 percent to national inflation. Greater Accra followed with 31.0 percent. Eastern Region contributed 14.8 percent. Central Region posted 11.8 percent. Volta Region recorded 5.2 percent. Dr. Iddrisu linked the differences to supply gaps, transport costs, and market access.
Key Drivers of Price Pressure
Charcoal contributed 13.1 percent to inflation. Rent payments followed at 11.8 percent. Fresh tomatoes contributed 11.4 percent. School fees accounted for 9.3 percent. Green plantain also contributed 9.3 percent. Fresh tomatoes rose 35.8 percent year-on-year. Prices jumped 38.8 percent month-on-month.
Ginger recorded 78.0 percent year-on-year inflation. Charcoal rose 50.1 percent. Green plantain increased 47.6 percent.
Dried fish rose 40.1 percent. Shrimps increased 47.2 percent. Price Drops in Selected Items. Cocoyam leaves fell by 43.7 percent. Fried fish dropped by 43.6 percent. Garden eggs declined by 41.3 percent. Pawpaw fell by 40.4 percent.
Policy Outlook
Dr. Iddrisu urged businesses to improve efficiency and reduce costs. He advised households to manage spending and prioritise essentials. Also he called on government to strengthen food systems and improve storage and transport. He also urged investment in irrigation and market access.
Monetary Policy Context
The Bank of Ghana prepares for its next Monetary Policy Committee meeting. The central bank cut the policy rate by 1,000 basis points to 18 percent. The easing cycle continues as inflation trends evolve.
Food Costs Push Ghana Inflation Higher to 3.7 Percent in May 2026 | Aviationghana
