The inflation rate recorded a marginal increase in April 2026, rising from 3.2 percent in March to 3.4 percent, according to the latest Consumer Price Index (CPI) data released by the Ghana Statistical Service.
The slight increase was largely driven by rising costs in housing, utilities, fuel, and education-related expenses, despite continued moderation in food prices and transport fares.
The figures reflect the growing pressure on households from non-food expenditures, particularly in urban areas where rent and utility charges continue to rise.
According to the report, items such as charcoal, rent payments, smoked fish, utility charges, and senior high school fees contributed significantly to the increase in the inflation rate during the month under review.
However, average transport fares reportedly declined by approximately 3.4 percent over the same period, offering some relief to commuters.
The latest data further showed that overall prices of goods and services increased by 1.0 percent between March and April 2026 on a month-on-month basis, indicating sustained upward pressure on consumer spending.
A breakdown of the inflation figures revealed a widening gap between food and non-food inflation. While year-on-year food inflation dropped slightly from 2.3 percent in March to 2.2 percent in April, non-food inflation climbed from 3.9 percent to 4.2 percent, driven mainly by increases in service-related costs.
The report highlighted that goods inflation slowed to 1.1 percent in April from 1.7 percent in March, suggesting some easing in the prices of everyday commodities.
However, inflation in the services sector rose sharply from 7.2 percent to 9.6 percent year-on-year, reflecting higher charges in housing, utilities, and other service-oriented sectors.
Economists say the divergence between goods and services inflation points to deeper structural pressures within the economy, where supply chain improvements may be helping stabilise commodity prices, but administrative and operational costs continue to push service prices upward.
Regionally, the inflation data showed significant disparities across the country.
The North East Region recorded the highest inflation rate at 9.5 percent, while the Savannah Region posted the lowest rate at negative 3.5 percent, underscoring differences in market access, transportation conditions, and local supply dynamics.
Government Statistician Alhassan Iddrisu warned that policymakers must take deliberate steps to cushion vulnerable households against rising living costs.
He stressed the need for fiscal discipline and stronger investment in food systems, particularly in areas such as storage, irrigation, and transportation infrastructure.
The report also called for targeted interventions to address regional inequalities in market access and distribution networks, which continue to affect price stability across various parts of the country.
The latest inflation figures come at a time when the economic managers are seeking to maintain macroeconomic stability amid ongoing debates over public spending, currency performance, and the broader cost of living.
While the relatively low inflation rate compared to previous years may signal improving economic conditions, analysts caution that rising service costs could still weigh heavily on household incomes and business operations if not carefully managed.
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