Disinflation run pauses as inflation edges up to 3.4% in April

Ghana’s disinflation run has hit a pause, with headline inflation inching up to 3.4% in April 2026, the first increase after 15 consecutive months of declining price pressures, complicating expectations for an imminent monetary policy easing.

The latest data from the Ghana Statistical Service represents a 0.2 percentage point rise from the 3.2 % recorded in March, signalling a modest rebound in consumer prices after a sustained period of stability.

On a month-on-month basis, inflation stood at 1.0% in April, suggesting a pickup in near-term price momentum.

Presenting the figures in Accra on Wednesday, May 6, Government Statistician Dr Alhassan Iddrisu attributed the uptick largely to the housing, water, electricity, gas, and other fuels component, which accounted for more than 37% of the overall inflation outturn.

“In April 2026, the Consumer Price Index stood at 267.3, up from 258.6 in April 2025. This translates into a year-on-year inflation rate of 3.4%.

“In simple language, prices are 3.4% higher than they were one year ago. On a monthly basis, inflation was 1%, meaning that prices increased by 1% between March 2026 and April 2026. Compared to March 2026, inflation has increased by 0.2 percentage points.

But if we compare inflation to the same period in 2025, which is April 2025, then inflation has dropped sharply by 17.8 percentage points. This tells us something important: inflation remains low overall, but we are beginning to see a slight upward movement,” he said.