Ghana's Inflation Rebounds to 5.2%, Reinforces Central Bank's Cautious Stance

Ghana’s annual inflation edged up to 5.2% in September 2026, up from 5.0% in August, but still well below the 9.4% level from a year earlier. Food inflation accelerated to 4% while housing and utilities posted the highest rate among major categories at 10.3%. Overall, the Bank of Ghana kept its benchmark interest rate unchanged at 14% in September, citing contained inflationary pressures even as the headline figure rose slightly. Ghana Statistical Service data released October 7 showed consumer prices up 1.1% month over month. Services inflation climbed to 8.3%, contrasting with 4.2% for goods, while nonfood inflation eased to 6.2%. Real GDP grew 6% in Q2 2026.