A new study led by Professor Smart Sarpong of the Kumasi Technical University has found that only 32.2 percent of salaried workers in Ghana are able to save money, highlighting significant financial strain across the workforce.

According to the National Cost of Living Outlook Report for the first quarter of 2026, 67.8 percent of employees reported that their monthly expenditures exceed their total income.

The research, which surveyed 4,155 households across eight regions, attributes this low savings rate primarily to inadequate salary levels, particularly within the private sector.

The findings indicate a stark disparity between public and private sector earnings. While 95 percent of all workers earn less than GH₵5,000 monthly, more than 36 percent earn below GH₵1,000.

Data shows that public sector employees generally receive higher compensation, with only 6.6 percent earning less than GH₵1,000 compared to 15.8 percent of private sector workers.

Furthermore, 58 percent of private sector employees earn below GH₵2,000, whereas only 19.7 percent of public sector staff fall into that income bracket.

At the higher end of the scale, 55 percent of public sector workers earn above GH₵4,000, contrasting with just 18.1 percent of their private sector counterparts.

The report also documents a sharp decline in public perception regarding the affordability of living in Ghana.

At the end of the first quarter of 2026, only 14.4 percent of Ghanaians perceived the cost of living to be low, representing a significant drop from 68.8 percent in 2025.

Although 42.8 percent of respondents noticed no major change from the previous year, there was a three percent increase in those who categorize the cost of living as high.

The study identified electricity, public transportation, and mobile services, including data and call credit, as the primary drivers of rising household costs.