Ghana’s inflation rises to 5.5% in October, third consecutive increase

Ghana's year-on-year inflation rate edged up to 5.5% in October 2026, continuing an upward trend that began in July 2026 and marked the third consecutive monthly increase. Dr. Alhassan Iddrisu, the Government Statistician, attributed the rise primarily to surging prices in the services sector and other non-food items, which accounted for 76% of the overall inflation rate.

Food inflation, meanwhile, contributed just 24% to the total increase, down from 4% in September 2026 and a much higher 9.5% in October of the previous year. The services sector saw a sharp jump in inflation, surging from 8.3% to 11.5% in October, while goods inflation dipped slightly from 4.2% to 3.8%. Prices of transport services were the most volatile, rising by 8% to 14.1% in October, while housing, water, electricity, gas and other fuels contributed significantly to overall inflation at 24.4%.

Locally produced goods saw a higher inflation rate of 6.9% compared to imported goods, which had a rate of 2.4%. This disparity, coupled with regional variations, highlighted that inflation's impact varied across Ghana's regions.