Ghana inflation driven by housing, water, and energy costs

In August 2026, housing, water, and energy became the primary driver of inflation in Ghana, accounting for 29.4% of the total rate. According to the Ghana Statistical Service, inflation in this category rose from 8.3% in July to 11.6% in August. This sector surpassed food and beverages, which contributed 29.1% to the overall inflation.

While headline inflation remained at 5.0%, services inflation reached 8.6%, more than double the 3.8% recorded for goods. The Ghana Statistical Service noted that services represent a persistent area of price pressure. Other notable contributors included transport at 13.2% and education services at 7.4%.

In contrast to the national trend, the Western, Bono East, and Savannah regions recorded negative inflation for the second consecutive month. Bono East saw the sharpest decline with prices falling 3.3%, followed by the Western Region at 2.2% and Savannah at 0.04%. These figures indicate that in these specific regions, price declines across a broad basket of goods and services outweighed increases.