October 2026 inflation rises to 5.5%

In October 2026, the inflation rate surged to 5.5% from 5.2% in the previous month, marking the third consecutive monthly increase since July, according to government data released by Dr Alhassan Iddrisu, the Government Statistician. Non-food inflation was found to be the primary catalyst, contributing to roughly 76% of the overall inflation rate, compared to 24% from food prices.

Services sector prices were largely responsible for the rise, with the average price increase equating to about 76 pesewas for every Ghana cedi spent, while food prices accounted for a smaller 24 pesewas. Food inflation, however, eased to 2.8% in October, down from 4% in September and 9.5% in October 2025. On a month-to-month basis, food prices actually fell by 2%, leading to a modest 0.1% reduction in overall prices between September and October.

Conversely, services inflation jumped to 11.5% from 8.3% in September, while goods inflation eased to 3.8% from 4.2%.