Ghana’s inflation rate increased to 5.5 per cent in October 2026, reversing the decline recorded in September, as higher transport and service costs put upward pressure on the prices of goods and services.
The latest figures, released by the Ghana Statistical Service, show that inflation rose from 5.2 per cent in September to 5.5 per cent in October.
This means prices were, on average, 5.5 per cent higher in October than they were during the same period in 2025. However, on a month-on-month basis, average prices recorded a slight decline of 0.1 per cent.
Government Statistician Dr Alhassan Iddrisu said non-food items accounted for approximately 76 per cent of the annual inflation rate, with food contributing the remaining 24 per cent.
Transport was among the major sources of price pressure, recording an annual inflation rate of 14.1 per cent in October. Prices in the sector also increased by 8 per cent between September and October.
Service inflation rose significantly to 11.5 per cent from 8.3 per cent in the previous month, while goods inflation stood at 3.8 per cent.
Food inflation, meanwhile, continued to ease, falling to 2.8 per cent in October from 4 per cent in September.
Although food prices remained higher than they were a year earlier, the slower inflation rate indicates that the pace of annual price increases had moderated. On a month-on-month basis, average food prices declined by 2 per cent.
The housing, water, electricity, gas and other fuels category recorded an annual inflation rate of 10.5 per cent.
Together, food, transport and housing-related expenses accounted for approximately 70 per cent of overall inflation, highlighting their significant contribution to the cost of living.
The figures also revealed a difference between locally produced and imported goods. Prices of locally produced items increased by 6.9 per cent over the year, compared with 2.4 per cent for imported goods.
A regional breakdown showed that the Ashanti Region recorded the highest inflation rate at 9.7 per cent, followed by the Eastern Region with 7.8 per cent.
The Northern Region recorded the lowest rate at negative 0.5 per cent, indicating that average prices there were lower than in October 2025.
At the product level, fresh tomatoes recorded the sharpest annual price increase, rising by 119.3 per cent. Shrimp prices followed with an increase of 88.8 per cent, while ginger rose by 88.2 per cent.
Some food items, however, recorded notable price declines. Guinea corn prices fell by 28 per cent, maize by 27.2 per cent, foreign apples by 24.5 per cent and lime by 23.7 per cent.
Dr Iddrisu said the latest inflation figures would provide useful information for households, businesses and policymakers.
He explained that the data could help households plan their spending, enable businesses to manage operating costs and guide policymakers in identifying areas that may require intervention.
