Ghana's inflation in May 2026 was mainly caused by rising food prices, locally made goods, and different price changes across the country. Government Statistician Dr. Alhassan Iddrisu announced this on June 3, 2026. He explained that items produced within Ghana were responsible for about 92% of the total inflation. This shows how much what we grow and make here affects the prices we pay.
Dr. Iddrisu specifically stated that locally produced items represented roughly 92% of the inflation figure for May. This indicates that the cost of living is largely determined by what is available and produced within Ghana. This focus on domestic supply conditions is a key driver of price movements. The statistician said, "This is largely a homegrown story. Locally produced items account for about 92% of inflation in May."
Food prices saw a sharp rise, going up to 3.3% in May. Month-over-month, food prices increased by 2%, making food the biggest reason for the overall inflation. In contrast, prices for non-food items grew slower, reaching 4.1% compared to 4.2% in April. Dr. Iddrisu also pointed out that services like paying rent and school fees are increasing faster than the prices of physical goods. These rising service costs are putting more strain on family budgets.
Specific costs that heavily influenced prices included rent, which contributed 11.8% to inflation. Fresh tomatoes also played a role, accounting for 11.4%. For education, secondary school fees rose by 9.3%, and green plantain prices also increased by 9.3%. These particular items were significant factors shaping the inflation numbers. The data also showed that inflation varied greatly from one region to another. Some areas experienced price increases of more than 10%, while others saw prices go down.
Despite these increases, the cost of transport acted as a moderating force on inflation. Fuel and public transport fares were lower than in the previous year. This helped to balance out the sharper increases seen in food prices. Dr. Iddrisu concluded that while inflation is currently lower than in past years, policymakers must pay close attention to food supply systems. They also need to look at local production chains and the differences in prices across regions. These areas are important for keeping prices stable.
The Government Statistician's remarks provide a clear picture of the factors influencing household expenses. The reliance on locally produced goods for inflation highlights the importance of agricultural productivity and supply chain efficiency. While transport costs offered some relief, the rising expenses in housing and education demand specific policy attention. These elements are crucial for ensuring economic stability and supporting the financial well-being of Ghanaian citizens.