Ghana Inflation Rises to 5.5 Percent in October

The Ghana Statistical Service reported that year-on-year inflation rose to 5.5 percent in October 2026, an increase from 5.2 percent in September. This rise was primarily driven by non-food inflation, which climbed to 7.9 percent, and services inflation, which jumped to 11.5 percent. Transport prices experienced a significant 8.0 percent month-on-month increase, while housing and education costs also rose.

In contrast, food inflation eased to 2.8 percent from 4.0 percent in September. While prices for maize, sorghum, and local rice dropped, fresh tomatoes saw a surge of 119.3 percent. Locally produced items accounted for 86.4 percent of the total inflation. Regional disparities were evident, with the Ashanti Region recording the highest inflation at 9.7 percent and the Northern Region experiencing a deflationary rate of -0.5 percent.

The Bank of Ghana maintained its policy rate at 14 percent, stating that the current inflation rate remains within its medium-term target band of 8 ± 2 percent.