Ghana’s annual inflation rate rose ‌for the third month in a row in October, but the increase was smaller than ​expected and kept inflation below the ​central bank’s target band.

Consumer inflation was at ⁠5.5% year on year in October, ​up from 5.2% in September, the statistics service ​said on Wednesday.
Economists polled by Reuters had predicted a reading of 6.2%.

Government statistician Alhassan Iddrisu said ​non-food inflation quickened to 7.9% and was ​the key driver, contributing roughly three-quarters of overall inflation
Food ‌inflation ⁠eased to 2.8%, as several staple items and fruits were cheaper than a year ago.

Ghana’s inflation slowed sharply over 2025, ​but it has ​picked ⁠up since touching a low of 3.2% in March 2026.

Ghana’s central bank ​held its main interest rate at ​14% ⁠in September for a third consecutive meeting.

The bank targets inflation of 8% with a ⁠margin ​of error of 2 ​percentage points either side.

–Reuters–