Transport costs emerged as a major driver of Ghana’s rising inflation in October 2026, recording an 8 per cent monthly price increase and pushing year-on-year transport inflation to 14.1%, up from 5.7% in September.
The sharp increase contributed to the country’s overall inflation rate rising for the third consecutive month to 5.5% in October, compared with 5.2% in September.
Presenting the October 2026 Consumer Price Index and Inflation Report, Government Statistician, Dr Alhassan Iddrisu, attributed the latest increase largely to rising prices in the services sector, which recorded significantly higher inflation than goods.
Services inflation climbed to 11.5% in October from 8.3% in September, while goods inflation eased to 3.8% from 4.2%.
Dr Iddrisu observed that services were now recording price increases at almost three times the rate of goods, highlighting a shift in the sources of inflationary pressure in the economy.
Housing, water, electricity, gas and other fuels recorded inflation of 10.5%, making the division the largest contributor to the overall October inflation rate, with a share of 24.4%.
Food and non-alcoholic beverages contributed 24.3%, while transport accounted for 22.5%.
According to the Government Statistician, the three expenditure divisions collectively accounted for approximately 70% of October’s inflation.
Food Inflation Eases Despite Rising Overall Inflation
Despite the increase in headline inflation, food prices recorded a significant slowdown, with food inflation declining to 2.8% in October from 4% in September and 9.5% in October 2025.
Food prices also fell by 2% between September and October, contributing to a 0.1% decline in overall price levels during the month.
Dr Iddrisu explained that non-food items accounted for approximately 76% of the overall inflation rate, while food contributed the remaining 24%.
He said this meant that for every GH¢1 increase in prices captured in October’s inflation calculation, approximately 76 pesewas came from non-food items and 24 pesewas from food.
Fresh Tomatoes Record 119.3% Price Increase
At the commodity level, fresh tomatoes recorded the highest year-on-year price increase among the selected items, rising by 119.3%.
Sh rimps followed with an increase of 88.8%, while ginger prices rose by 88.2%. Parking space and related services recorded a 47.2% increase, with mangoes rising by 45.3%.
However, some commodities recorded significant price reductions over the same period.
Guinea corn prices declined by 28%, maize by 27.2%, foreign apples by 24.5% and limes by 23.7%.
Ashanti Records Highest Regional Inflation
Regional data showed significant differences in price movements across the country, with the Ashanti Region recording the highest inflation rate of 9.7%.
The Eastern Region followed with 7.8%, while Ahafo and Central recorded 6.8% and 6.2%, respectively.
The Northern Region recorded the lowest inflation rate at negative 0.5%, indicating that average prices were lower than they were in October 2025.
Dr Iddrisu said the variations demonstrated that inflationary pressures differed across regions, with location influencing the prices consumers paid for goods and services.
He also disclosed that locally produced items recorded inflation of 6.9%, significantly higher than the 2.4% recorded for imported items.
Locally produced goods accounted for 86.4% of the overall inflation rate in October.
Despite the third consecutive monthly increase, Dr Iddrisu noted that the October inflation rate of 5.5% remained below the Bank of Ghana’s medium-term inflation target of 8%, with a tolerance band of plus or minus two percentage points.
He urged households, businesses and policymakers to rely on disaggregated inflation data to monitor price movements, manage expenditure and direct interventions towards sectors and regions experiencing stronger price pressures.
