Ghana inflation jumps to 5.3% in June as transport and housing costs surge

Ghana’s annual inflation rate accelerated sharply to 5.3% in June, up from 3.7% in May, according to data from the Ghana Statistical Service.

The 1.6 percentage point increase marks the third consecutive month of rising prices, driven primarily by surging costs in non-food categories including public transport fares, rent, and school fees.

4% in June, offering a tentative sign of easing price pressures in East Africa.

The broadening of price pressures beyond food items suggests underlying demand or supply-side frictions are persisting across the economy.

While food inflation has often been the primary driver in emerging African markets, the recent acceleration in services and transportation costs indicates a wider-based inflationary trend that may prove more sticky.

This development contrasts with neighboring Kenya, where annual inflation decelerated to 6.4% in June, offering a tentative sign of easing price pressures in East Africa.

The divergence highlights the varying effectiveness of monetary tightening and fiscal consolidation measures across the region.