Charcoal, plantain, and school-related costs were the biggest drivers of Ghana’s inflation in February 2026, even as overall price pressures continued to ease.
Data from the Ghana Statistical Service show that the top 20 items alone accounted for the bulk of the 3.3 percent year-on-year inflation recorded for the month.
Charcoal emerged as the single largest contributor, posting a 53.1 percent year-on-year increase. Although prices dipped slightly on a month-on-month basis, its weight in household consumption kept it at the top of the inflation table.
Green plantain followed closely, with prices up 67.9 percent year-on-year, reinforcing continued volatility in staple food markets. River fish and smoked herrings also recorded double-digit increases, highlighting persistent pressure on protein sources.
Education-related expenses also featured prominently. Public and private secondary school fees rose 10 percent year-on-year and increased 4 percent between January and February. Pre-primary and primary education costs also contributed to overall price growth.
Housing-related costs showed renewed momentum. Rent payments recorded a 7.4 percent year-on-year increase, with a sharp month-on-month rise of 5.3 percent. Re-sold tap water and refuse disposal charges also added to inflationary pressures.
Other notable contributors included vegetable oil, cooked rice, tomato paste, yam, beef, hotel accommodation, and local dishes such as fufu with soup and kenkey with fried fish.
Despite the easing in headline inflation to its lowest level since the 2021 rebasing, the item-level breakdown suggests that price pressures remain concentrated in food staples, household energy substitutes, and education services — key areas that directly affect household disposable income and consumer spending.
For businesses, the data point to continued cost sensitivity in food retail, hospitality, housing, and private education, even as macroeconomic stability gradually improves.
