Ghana Inflation Rate Quickens to Near 1-Year High

The annual inflation rate in Ghana rose further to 5.5% in October 2026 from September's 5.2%, reaching the highest since last November. Non-food inflation accelerated to 7.9% from 6.2%, while services inflation climbed to 11.5% from 8.3%, reflecting stronger price pressures in transport, housing-related services and other household expenses. In contrast, food inflation eased to 2.8%, down from 4.0% in September. On a monthly basis, the CPI edged down by 0.1% in October, after a 1.1% rise in the prior month, largely attributed to a 2% drop in food prices.

The annual inflation rate in Ghana rose to 5.2% in September 2026 from 5% in August, accelerating for a second consecutive month. Food inflation picked up to 4% from 3% in the prior month. In contrast, non-food inflation slowed to 6.2% from 6.8%, while inflation for services softened to 8.3% from 8.6%. On a monthly basis, consumer prices rose 0.8%, doubling from a 0.4% rise the month before.

The annual inflation rate in Ghana reaccelerated to 5% in August 2026 from 4.6% in July. Non-food price growth picked up to 6.8%, up from 6.1% in July, driven in part by higher oil prices stemming from the Middle East war that pushed up transport and utility costs. Meanwhile, food inflation eased marginally to 3% from 3.1%. On a monthly basis, the CPI fell by 1% in August, marking the first decline since late 2025, after a 0.1% uptick in the previous month.