By Francis Ntow, GNA
Accra, Oct. 8, GNA – Ghana’s year-on-year inflation has risen slightly to 5.2 per cent, up from the five per cent in August 2026, driven largely by service costs and high rent, the Ghana Statistical Service said on Wednesday.
On a month-on-month basis, consumer prices rebounded, rising 1.1 per cent in September after a one per cent decline in August, pushing the overall consumer price index higher to 271.5 for the month.
The virtual release of the September CPI and inflation noted that the 5.2 per cent remained below the lower bound of the Bank of Ghana’s 8 ± 2 per cent medium-term target band, signalling sustained price stability.
While fresh tomatoes were the single biggest driver at 20.3 per cent of September’s inflation, rent contributed 13.9 per cent, with services inflation sticking at 8.3 per cent, keeping overall inflation elevated, the GSS figures showed.
Putting the figures into perspective, Dr Alhassan Iddrisu, the Government Statistician, said: “A basket of goods and services that cost 100 Ghana cedis in September last year now cost GHS105.20 in September 2026. Last year, the same comparison with September 2024 showed a rise of GHS9.42.”
A disaggregation of the figures showed that food inflation rose to four per cent from three per cent in August, but below the 11 per cent a year ago, while non-food inflation eased to 6.2 per cent from 6.8 per cent in August, though remained the bigger driver.
In terms of goods and services, the Statistical Service reported that inflation was now home-grown and services story – as the 8.3 per cent services inflation was almost twice as the 4.2 per cent for goods.
“Non-food eased to 6.2 per cent, imported items rose to 2.4 per cent and locally produced items rose 6.4 per cent. Goods rose 4.2 per cent and services rose 8.3 per cent,” Dr Iddrisu said.
“Here is what stands out. Services inflation is now higher than it was a year ago, when it was 4.8 per cent. It is the only one of these groups moving the wrong way.”
The Government Statistician noted that where people lived matter, as regional disaggregation saw Ashanti region recording the highest rate of inflation at 9.8 per cent, up from 8.7 per cent in August.
On the other hand, Western Region had the lowest rate of negative 0.5 per cent, compared with 11.8 per cent a year ago, with the Ashanti and Greater Accra regions driving a combined 56.6 per cent of the national inflation rate.
A few items carried much of the weight in September, including fresh tomatoes, which went up 153.4 per cent year on year, ginger 100.4 per cent and shrimps 62.8 per cent, the CPI and inflation data showed.
“In short, three forces are at work. They are a fresh food items, home-grown costs and sticky services,” Dr Iddrisu said, urging the Government to target relief to high inflation regions and cut post harvest losses on fresh produce.
He told businesses to price goods and set contracts using the official 5.2 per cent inflation rate rather than rumours, locking in supplier deals while imported inflation was low at 2.4 per cent to protect margins amid stabilising costs.
For households, he said they could plan with confidence as prices rose far more slowly than a year ago, with food inflation at four per cent, offering savings space, while watching service bills like rent, transport and school fees, which rose to 8.3 per cent.
GNA
Edited by Agnes Boye-Doe
Reporter: Francis Ntow
Email: [email protected]