Ghana’s annual inflation rate quickened to 5% in August 2026, up from 4.6% in July. Non-food inflation rose to 6.8% from 6.1%, reflecting higher oil prices linked to the Middle East conflict, which increased transport and utility costs. In contrast, food inflation edged down slightly to 3% from 3.1%. On a monthly basis, the consumer price index (CPI) declined by 1% in August—its first drop since late 2025—following a 0.1% increase in July.