Ghana’s year-on-year inflation rate stood at 5.5% in October 2026, up from 5.2% in September. It was the third monthly rise in a row, following increases since July.
Presenting the October 2026 Consumer Price Index and Inflation Report, Government Statistician Dr Alhassan Iddrisu said the increase came largely from rising prices in the services sector. Non-food items accounted for about 76% of the overall rate, and food for about 24%.
“In very simple language, of every one Ghana cedi price rise in October 2026, about 76 pesewas came from non-food items, and 24 pesewas came from food,” he said.
Services up, goods and food down
Services inflation climbed to 11.5% from 8.3% in September, while goods inflation declined to 3.8% from 4.2%. “Services are now rising about three times as fast as goods,” Dr Iddrisu said.
Food inflation eased to 2.8%, from 4% in September and 9.5% in October 2025. Food prices fell by 2% month-on-month, contributing to an overall 0.1% reduction in prices between September and October.
Transport leads the 13 expenditure divisions
Transport recorded the highest inflation among the 13 expenditure divisions at 14.1%, up from 5.7% in September. Transport prices rose by 8% within the month.
Housing, water, electricity, gas and other fuels recorded inflation of 10.5% and was the largest contributor to the overall rate at 24.4%. Food and non-alcoholic beverages contributed 24.3%, and transport 22.5%.
“Just these three divisions out of the 13 divisions contributed about 70% to October 2026 inflation,” the Government Statistician said.
Locally produced items recorded inflation of 6.9%, compared with 2.4% for imported items, and accounted for 86.4% of October’s inflation.
Regional differences
Ashanti recorded the highest regional inflation rate at 9.7%, followed by Eastern at 7.8%, Ahafo at 6.8% and Central at 6.2%. The Northern Region had the lowest rate at negative 0.5%, meaning average prices were lower than a year earlier.
“Where you live actually changes what you pay. In other words, inflation is not the same everywhere in Ghana,” Dr Iddrisu said.
Commodity prices
Fresh tomatoes recorded the highest year-on-year price increase among the listed commodities at 119.3%, followed by shrimps at 88.8% and ginger at 88.2%. Parking space and related services rose by 47.2%, and mangoes by 45.3%.
Some food staples became cheaper. Guinea corn fell by 28%, maize by 27.2%, foreign apples by 24.5% and limes by 23.7%.
Within the central bank’s target
Dr Iddrisu noted that the October rate of 5.5% was below the Bank of Ghana’s medium-term inflation target of 8%, plus or minus two percentage points.
He said the data should guide households, businesses and policymakers in managing expenditure, reviewing business costs and directing support to areas with higher price increases. He urged stakeholders to use the Ghana Statistical Service’s disaggregated inflation data to understand price movements across sectors and regions and to support evidence-based decisions.
Source: classfmonline
