On Wednesday, June 3, the Ghana Statistical Service (GSS) released the May 2026 Consumer Price Index (CPI) and Inflation Report.
From the data, Ghana’s year-on-year inflation rate increased slightly to 3.7% in May 2026, while month-on-month inflation stood at 1.1%.
According to the GSS, the data show continued improvement compared to the 18.4% recorded a year ago, although price pressures remain in some food items, housing-related costs, and selected services.
“Whether you are a household managing a budget, a business planning ahead, a researcher tracking trends, or a policymaker shaping the decisions that affect millions, this data is for you. Understanding where prices are moving is not just a statistical exercise. It is a tool for smarter choices, better planning, and more informed policy,” he said.
Dr Alhassan Iddrisu further urged the government to maintain fiscal discipline, invest in food systems – especially storage, irrigation, and transport.
He also asked the government to address regional inequalities in market access. To businesses, he urged them to improve efficiency, strengthen local supply chains, reduce avoidable costs, and, where possible, pass savings on to consumers.
To households, he urged them to track their spending carefully, focus on essential items, avoid unnecessary expenses, and build small savings whenever possible
Ghana’s inflation increased to 3.7% in May 2026, up from 3.4%in April 2026 and below the 18.4%recorded in May 2025 by 14.7 points. Overall prices increased by 1.1% between April and May 2026. 3. Food inflation rose to 3.3% in May 2026, from 2.2%in April 2026.
Food prices increased by 2.0%between April and May 2026. Non-food inflation decreased to 4.1% in May 2026 from4.2% in April 2026. Non-food prices, however, increased by 0.4% month-to-month. Inflation for goods increased to 1.4% in May 2026 from 1.1% in April 2026.
However, goods prices increased by 0.8% month-to-month. Since goods account for nearly ¾of the Consumer Producer Index (CPI) basket, the increase in goods inflation is of great concern to consumers.
Services inflation rose to 9.9% in May 2026 from 9.6% in April 2026. Month-on-month prices of services increased by 0.9% between April and May 2026.
Inflation for locally produced items rose to 5.0% in May 2026 from 4.7% in April 2026 whilst that for importeditems increasedto 0.9% in May 2026 from0.5% in April 2026.
Sharp regional differences persist as Inflation is uneven across the country. NorthEast Region recorded the highest rate at 10.1%, while Savannah had the lowest at -3.0%. Local supply, transport costs, and market access could be driving these gaps.
Source:3news.com