Consumer, business sentiments positive – BoG

The Bank of Ghana reported on August 2026 that both consumer and business sentiments were positive, based on confidence surveys conducted in the previous month. This positive outlook was attributed to the stable macroeconomic environment and expectations of growth. The Central Bank noted that the Composite Index of Economic Activity (CIEA) had grown strongly by 14.9% in July 2026, up from 6.1% in the same month a year prior.

Key drivers behind this improvement included credit availability for businesses, international trade activities, and increased consumption of goods and services. While headline inflation rose to 5.0% in August 2026, up from 4.6% in July, this was largely due to non-food inflation and factors such as tariff adjustments and higher oil prices.

Food inflation, however, remained low at 3.0%, a slight decrease from 3.1% in July. Despite these inflationary pressures, the Bank of Ghana stated that headline inflation remained below the target range of 8 ± 2%.