Bus fares, rent, and school fees push Ghana’s inflation to 5.3% in June

Ghana’s year-on-year inflation rate rose to 5.3 percent in June 2026, up from 3.7 percent in May, representing a 1.6 percentage point increase, according to the Ghana Statistical Service (GSS). The rise was largely driven by higher non-food prices.

Despite the month-on-month increase, inflation remains significantly lower than the 13.7 percent recorded in June 2025, indicating continued easing of price pressures compared to the same period last year.

Data released by the GSS showed that the Consumer Price Index (CPI) increased to 270.8 in June 2026, compared to 257.3 a year earlier.

On a monthly basis, inflation slowed to 0.2 percent, down from 1.1 percent in May, suggesting that while prices continued to rise, the pace of increase moderated.

Non-food inflation was the main driver of overall price increases, rising to 6.3 percent from 4.1 percent in May and accounting for 68.5 percent of headline inflation. Within this category, transport fares contributed the most to inflation, accounting for 10.5 percent of the headline figure.

Rents followed with an 8.4 percent contribution, while secondary school fees accounted for 7.2 percent. Accommodation services, including hotels, contributed 4.0 percent. Services inflation remained a key pressure point, standing at 9.4 percent, reflecting persistent cost increases in the sector.

Food inflation also edged upward, rising to 3.9 percent from 3.3 percent in May.

The report further showed that prices of locally produced goods rose faster than imports. Inflation for locally produced items increased to 6.7 percent from 5.0 percent, contributing 86.6 percent of headline inflation. Imported goods inflation also rose, moving up to 2.3 percent from 0.9 percent.

In terms of broad categories, services inflation stood at 9.4 percent, slightly down from 9.9 percent in May, while goods inflation rose sharply to 3.7 percent from 1.4 percent.

Regionally, the North East Region recorded the highest inflation rate at 10.2 percent, while the Bono East Region recorded the lowest at -4.4 percent, indicating a decline in average prices in that region.