Ghana's inflation rises in June as high fuel prices persist

Ghana's inflation nearly doubled in June as high fuel prices caused by the war on Iran continued to rattle the economy.

Prices rose to 5.3% in June, up from 3.7% in May, with transport fares, rent, and school fees being the main drivers.

Despite the increase, inflation remains significantly lower than the 13.7% recorded in June 2025.

Ghana's economy has been on a recovery trend since an IMF program in 2023. It came after the country defaulted on its debt in 2022, as the Covid-19 pandemic and effects of the war in Ukraine hamstrang the economy.

The country returned to the local bond market in April, launching a 7-year cedi-denominated treasury bond to support the 2026 budget.

This is the first domestic bond issuance since the 2022 debt default.