Ghana’s year-on-year inflation rate increased to 5.5% in October 2026, up from 5.2% recorded in September, marking the third consecutive monthly increase since July.
The latest inflation figures indicate renewed pressure on the cost of living, with rising prices in the non-food sector emerging as the major contributor to the country’s inflation rate.
Government Statistician, Dr Alhassan Iddrisu, disclosed the figures while presenting the October 2026 Consumer Price Index (CPI) and Inflation Report.
According to him, non-food inflation accounted for approximately 76% of the overall inflation rate, while food inflation contributed the remaining 24%.
He explained that the latest increase was largely driven by rising prices within the services sector, highlighting the growing influence of non-food items on Ghana’s inflation trends.
Non-Food Inflation Remains Major Driver of Ghana’s Inflation
The October 2026 inflation report shows that non-food prices continue to exert significant pressure on the general price level in Ghana.
With non-food inflation accounting for 76% of the overall rate, increases in service-related costs and other non-food items remain key factors influencing the country’s inflation performance.
The development suggests that although food price pressures have eased considerably, consumers continue to face rising costs in other areas of the economy.
Ghana Food Inflation Drops to 2.8% in October 2026
Meanwhile, food inflation recorded a significant decline, falling to 2.8% in October 2026 from 4% in September.
The latest figure also represents a substantial improvement compared with the 9.5% recorded in October 2025.
The decline indicates a moderation in food price increases, offering some relief to households struggling with food costs and everyday living expenses.
However, the increase in overall inflation suggests that falling food inflation alone has not been sufficient to offset rising prices in the non-food sector.
The October figures highlight the changing dynamics of Ghana’s inflation environment, as developments in the services sector and other non-food categories continue to influence consumer prices and the cost of living.
Source: newsthemegh.com