Ghana's inflation rate climbed to 3.7% in May 2026. This is the second month in a row that prices have risen. The increase signals a slight return of upward pressure on the cost of goods and services for households.
The Ghana Statistical Service announced the figure on June 3, 2026. Government Statistician Dr. Alhassan Iddrisu presented the Consumer Price Index (CPI) data. The year-on-year inflation rate moved from 3.4% in April to 3.7% in May. This represents a 0.3 percentage point rise.
This shift occurs within a broader context of declining inflation over the past year. In May 2025, Ghana experienced a much higher inflation rate of 18.4%. Dr. Iddrisu highlighted this significant drop. He noted that price increases have slowed by 14.7 percentage points. This easing has greatly reduced financial strain on Ghanaian families.
Dr. Iddrisu cautioned about the recent figures. "Compared with April 2026, when inflation was 3.4%, the May figure of 3.7% is a rise of 0.3 percentage points," he stated. This is the second small upward tick since December 2024. On a month-to-month basis, prices increased by 1.1% from April to May 2026. He emphasized that the long-term trend remains downward and comforting. However, recent months show a small price increase.
The Ghana Statistical Service tracks the cost of a basket of goods and services. The CPI rose to 270.2 in May 2026 from 270.5 in May 2025. The central banking policy will likely monitor this trend closely. Further increases could influence interest rate decisions. Businesses will also watch these figures for planning and pricing strategies. Consumers may feel a slightly increased burden on their budgets.