GHANA’S year-on-year inflation rate edged up to 5.5 per cent in October 2026, from 5.2 per cent in September, as rising transport, housing and selected food prices continued to put pressure on household budgets.
Despite the increase in the annual rate, prices declined by 0.1 per cent between September and October, largely on the back of a two per cent fall in food prices.
The Government Statistician, Dr Alhassan Iddrisu, who announced the figures during the presentation of the October 2026 Consumer Price Index (CPI) and Inflation Report, said the latest figures reflected contrasting price movements across the country.
He explained that while the general price level was 5.5 per cent higher than in October 2025, some essential food items had become considerably cheaper, offering some relief to consumers.
“Prices across Ghana are, on average, 5.5 per cent higher in October 2026 than they were in October 2025. However, behind that single figure are thousands of different price movements and millions of households, each with its own experience,” Dr Iddrisu said.
He stressed that a decline in the inflation rate did not necessarily mean that prices were falling, explaining that inflation measured the pace at which prices increased rather than the actual cost of goods and services.
According to him, food inflation eased significantly to 2.8 per cent in October, down from four per cent in September and 9.5 per cent in October 2025.
The decline was supported by lower prices of staples such as Guinea corn, maize and foreign apples, which were 28 per cent, 27.2 per cent and 24.5 per cent cheaper, respectively, than a year earlier.
However, consumers continued to face steep increases in the prices of selected commodities, particularly fresh tomatoes, which recorded a 119.3 per cent annual increase. Shrimps and ginger also rose by 88.8 per cent and 88.2 per cent, respectively.
Dr Iddrisu said non-food inflation was the major driver of the October rate, accounting for 75.7 per cent of overall inflation, compared with 24.3 per cent for food.
He attributed the pressure largely to transport, housing and energy costs, as well as education and restaurant services.
Transport recorded the highest inflation among the 13 expenditure divisions at 14.1 per cent, up from 5.7 per cent in September, with prices increasing by eight per cent within the month.
Services inflation also rose sharply to 11.5 per cent, compared with 8.3 per cent in September, while goods inflation eased to 3.8 per cent.Read More
BY KINGSLEY ASARE
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