Ghana’s annual inflation rate rose to 5.5 per cent in October 2026, up from 5.2 per cent in September, driven by higher prices of non-food items and services.
Figures from the Ghana Statistical Service (GSS) show a 0.3 percentage point increase in the headline inflation rate, although the October figure remains below the 8 per cent recorded in the same period last year.
The increase comes despite a further slowdown in food inflation, which declined to 2.8 per cent in October from 4 per cent in September.
Non-food inflation, however, increased from 6.2 per cent to 7.9 per cent, while services inflation recorded a sharper rise from 8.3 per cent to 11.5 per cent over the same period.
The figures indicate that price pressures are increasingly coming from non-food goods and services even as food inflation continues to ease.
Inflation for locally produced items also increased to 6.9 per cent in October from 6.4 per cent in September.
Imported items inflation remained unchanged at 2.4 per cent, pointing to a wider gap between price increases for locally produced and imported goods.
On a month-on-month basis, the Consumer Price Index declined by 0.1 per cent in October, compared with an increase of 1.1 per cent in September.
The monthly decline was largely driven by a 2 per cent reduction in food prices during the period.
The latest figures show that although food prices recorded some relief in October, rising costs in other sectors continued to push the overall annual inflation rate upwards.
