Consumer, business sentiments positive – BoG
According to the Central Bank, the updated Composite Index of Economic Activity (CIEA) recorded a strong annual growth of 14.9% in July 2026, compared to 6.1% in July 2025.
The Bank of Ghana's consumer and business confidence surveys in August 2026 revealed optimistic attitudes, according to a report. This optimism stems from a stable macroeconomic environment and positive outlook for economic growth. The Central Bank highlighted that the Composite Index of Economic Activity (CIEA) showed robust annual expansion of 14.9% in July 2026, up from 6.1% in July 2025.
Key factors driving this growth include the credit market for the private sector, international trade activities, and consumption of goods and services.
While headline inflation rose to 5.0% in August 2026 from 4.6% in July 2026, this increase was driven primarily by non-food inflation. Non-food inflation jumped to 6.8% from 6.1% in July due to factors such as tariff hikes on utilities and higher crude oil prices. However, food inflation remained low and even slightly decreased to 3.0% from 3.1% in July, attributed to better food supply conditions.
The Bank of Ghana affirmed that despite the inflation uptick, headline inflation remained within the lower range of the medium-term target band of 8 ± 2%.
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- Consumer, business sentiments positive – BoG myjoyonline.com
