IC Insights forecasts Ghana’s inflation at 5.1% in September
Research company IC Insights forecasts that annual inflation in Ghana will stand at 5.1% in September 2026, with a possible deviation of 0.5 percentage points. Analysts expect a stable reading with a slight upside risk and estimate monthly inflation at 1.0%, MyJoyOnline reports.
In August, consumer inflation in the country accelerated by 40 basis points to 5.0% year-on-year. At the same time, food inflation edged down to 3.0%.
Food prices
Fresh tomatoes recorded the most notable price increase: their annual inflation reached 158.3% in August. IC Insights attributes this to a likely modest harvest this year but considers the surge a one-off shock whose impact will gradually weaken in the coming months. The company expects the arrival of the new harvest on the market to ease price pressure on food.
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Energy-related risks
Non-food inflation rose by 70 basis points in August to 6.8% year-on-year. It was influenced, among other factors, by an unfavorable base effect; this segment accounted for 70.9% of the increase in the overall inflation rate.
IC Insights warned that renewed upward pressure on energy prices due to the escalation of the war in the Middle East will support non-food inflation. This could offset the expected slowdown in food price growth.
Of the 15 food subgroups, higher inflation was recorded in only three. Inflation in the significant vegetables and tubers category increased by 710 basis points to 12.4%, while inflation for prepared food stood at 15.5%.
