Housing, water and energy emerged as the largest contributor to Ghana’s inflation in August 2026, accounting for 29.4% of the overall inflation rate, according to the Ghana Statistical Service (GSS).
The division recorded a sharp increase in its inflation rate, rising from 8.3% in July to 11.6% in August, representing a 3.3 percentage-point increase.
The latest figures place housing, water and energy marginally ahead of food and beverages, which accounted for 29.1% of total inflation during the month.
Transport and Education Follow
Transport was the third-largest contributor to overall inflation, accounting for 13.2%, while education services contributed 7.4%.
Restaurants and hotels accounted for another 4.8%.
The figures indicate that despite Ghana’s headline inflation remaining relatively low at 5.0%, households continued to face significant price pressures in key areas of expenditure.
Services Remain a Major Source of Pressure
The GSS reported that services inflation stood at 8.6% in August, significantly higher than the 3.8% recorded for goods.
According to the statistical authority, services remain the most persistent source of price pressure and a major challenge to achieving further reductions in the inflation rate.
Among the various divisions, insurance and finance recorded the highest inflation rate at 10.6%, up from 9.7% in July.
Education services recorded an inflation rate of 9.3%, while transport edged up from 7.5% to 7.6%.
Some Divisions Record Lower Inflation
Not all sectors recorded increases in inflation during the month.
Inflation for alcohol and tobacco declined from 3.7% to 3.0%, while health fell from 1.9% to 1.4%.
Inflation for furnishings and household equipment also declined, moving from 2.4% in July to 2.1% in August.
Communication was the only division to record deflation, with its inflation rate falling to -0.1% in August.
Non-Food Items Drive Majority of Inflation
The August data show that inflationary pressures are increasingly concentrated in non-food items, which accounted for 70.9% of total inflation, compared with 29.1% for food.
The figures underscore the continued pressure on household budgets from essential services and non-food expenditure, even as Ghana’s overall inflation rate remains on a downward trend.
