Ghana’s year‑on‑year inflation rate rose to 5.5% in October 2026, up from 5.2% in September, according to figures released by the Ghana Statistical Service (GSS). The headline rate increased by 0.3 percentage points, yet it remains 2.5 points below the 8% recorded in October 2025.
The uptick reflects a shift in the sources of price pressure: food inflation eased to 2.8% from 4.0% in September, while non‑food inflation climbed to 7.9% from 6.2%. Services inflation accelerated even more sharply, rising to 11.5% from 8.3%.
Higher services costs—particularly in transport, housing‑related services and other household expenses—have amplified price pressures on households, even as food prices have moderated.
Locally produced goods also saw a rise in inflation, moving to 6.9% in October from 6.4% in September, whereas imported items held steady at 2.4%. This widening gap indicates that domestic price pressures are more pronounced than those on imported goods.
Despite the annual rise, the consumer price index fell 0.1% month‑on‑month in October, largely due to a 2% drop in food prices, contrasting with a 1.1% increase in September. The divergence underscores the difference between annual inflation and monthly price changes.
GSS officials will monitor the trend as the government considers policy responses to manage the evolving inflation dynamics.
