Ghana Inflation Rises to 5.2 Percent in September

Ghana's year-on-year inflation rate rose to 5.2 percent in September 2026, up from 5.0 percent in August. According to data from the Ghana Statistical Service, the figure remains 4.2 percentage points lower than the 9.4 percent recorded in September 2025 and stays below the Bank of Ghana's medium-term target band of 8 percent plus or minus 2 percent.

Food inflation increased to 4.0 percent from 3.0 percent in August, primarily due to a 153.4 percent year-on-year price spike in fresh tomatoes. In contrast, non-food inflation declined to 6.2 percent from 6.8 percent. Regional disparities were significant, with the Ashanti Region recording the highest inflation at 9.8 percent, while the Western Region saw a rate of negative 0.5 percent.

The September results contradicted forecasts from Databank, which had predicted a decline in inflation based on improved food availability. However, the figures aligned closely with predictions from IC Insights, which had forecast headline inflation at approximately 5.1 percent.