Ghana's inflation rises to 11-month high of 5.5% in October
Ghana's annual inflation rate reached 5.5% in October 2026, up from 5.2% in September.
In Brief
- •Ghana's annual inflation rate reached 5.5% in October 2026, up from 5.2% in September.
- •Non-food inflation accelerated to 7.9%, driven by rising transport and services costs.
- •Transport prices increased by 8.0% month-on-month, contributing to services inflation.
- •Food inflation eased to 2.8%, providing some relief to households.
- •Ashanti Region recorded the highest inflation rate at 9.7%, while the Northern Region posted the lowest at -0.5%.
Why It Matters
The rise in inflation, particularly in non-food items, could complicate the Bank of Ghana's assessment of the inflation outlook. While food prices have eased, the increasing costs of transport and services are putting pressure on household budgets. This could impact economic stability and consumer spending, which are crucial for economic growth and job creation.
Key Details
- Annual Inflation Rate
- 5.5%
- Non-Food Inflation Rate
- 7.9%
- Transport Price Increase
- 8.0%
- Food Inflation Rate
- 2.8%
- Highest Inflation Region
- Ashanti Region (9.7%)
- Lowest Inflation Region
- Northern Region (-0.5%)
Context & Background
Ghana's inflation has been influenced by various factors, including changes in food and non-food prices. The Bank of Ghana has maintained a monetary policy rate of 14% to manage inflation, which remains below its medium-term target range of 6-10%.
Original Reporting & Sources
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