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.
