Ghana Inflation Rises to 5.2% in September
Ghana’s consumer inflation rose to 5.2% year-on-year in September, up from 5.0% in August, marking the second consecutive monthly increase, according to the Ghana Statistical Service.
The September figure remains significantly below the 9.4% recorded a year earlier, reflecting the sharp decline in inflation over the past year. However, the latest increase points to renewed price pressures in the economy.
Food inflation increased to 4.0% from 3.0%, while non-food inflation eased from 6.8% to 6.2%. Services inflation also declined slightly to 8.3% from 8.6%, but remained considerably higher than goods inflation at 4.2%.
Housing, water, electricity and gas recorded the highest inflation among spending divisions at 10.3%, while fresh tomatoes and ginger recorded particularly sharp annual price increases of 153.4% and 100.4%, respectively.
Despite the uptick, Ghana’s inflation remains below the lower boundary of the Bank of Ghana’s medium-term target range of 6% to 10%. The latest figures will nevertheless be closely watched as policymakers assess whether the recent rise represents a temporary movement or the beginning of renewed inflationary pressure.
