GHDatafie blog

Ghana's inflation rate explained: 5.5 percent in October 2026

GHDatafie, 23 October 2026

Ghana's headline inflation rate was 5.5 percent in October 2026, according to the Ghana Statistical Service (GSS). That is up from 5.2 percent in September 2026 and down from 8.0 percent in October 2025. Inflation measures how much prices have risen over the past year, on average.

Ghana's headline inflation rate was 5.5 percent in October 2026, according to the Ghana Statistical Service (GSS). On average, the prices in the national Consumer Price Index were 5.5 percent higher than in October 2025. The figure is flagged as final.

What inflation measures

The Consumer Price Index (CPI) is a single number that tracks the prices households pay for goods and services. GSS publishes a national index, which it labels "combined". Inflation is the year-on-year change in the index. GSS compares the index for one month with the same month a year earlier and shows the result to one decimal place. A figure of 5.5 percent tells you how far prices have moved over twelve months.

How GSS calculates it

An index needs a starting point, called a base, where the index is set to 100. GSS calculated each figure on the base in force when it was published: first 2012 = 100, then 2021 = 100. When GSS later restates a figure, GHDatafie keeps the newer figure as a revision instead of overwriting history quietly. All figures here are as published by GSS and may be revised.

How to read the latest figure

GHDatafie calculated an everyday example. At a yearly rate of 5.5 percent, something that cost GH₵100 in October 2025 costs GH₵105.5 in October 2026, on average. Your own basket may differ, because you do not buy exactly what the index tracks.

GHDatafie also calculated the changes. Inflation in October 2026 was 0.3 percentage points higher than in September 2026, when it was 5.2 percent. It was 2.5 percentage points lower than in October 2025, when it was 8.0 percent. So prices are rising more slowly than a year ago, and slightly faster than a month ago.

Common misunderstandings

A lower inflation rate does not mean prices are falling. It means prices are rising more slowly. When inflation fell from 8.0 percent in October 2025 to 5.5 percent in October 2026, prices were still higher than a year before. Prices fall only when inflation drops below zero.

A change in percentage points differs from a change in percent. A move from 5.2 percent to 5.5 percent is a rise of 0.3 percentage points, which GHDatafie calculated. Mixing the two makes small moves sound larger or smaller than they are.

Inflation is an average across many items. The price of one product you buy often can rise faster or slower than the headline figure. The headline figure describes the country as a whole, and your own costs can move differently.

The figures shown

The series begins in January 2013, and the chart above shows the most recent figures. They start in July 2023 at 43.1 percent. Inflation fell through 2024 and 2025, with some months of small rises, and reached its lowest point shown in March 2026. It has mostly risen since, with a dip in July 2026. You can hover over the chart to see each month.

The chart describes what happened to prices. It does not explain why they moved, and past months say nothing certain about the months ahead.

Where the figures come from

The figures are published by the Ghana Statistical Service (GSS) at statsghana.gov.gh. GHDatafie compiles them and is independent of and not endorsed by GSS. You can see the full series on the CPI inflation, headline, year on year page, and new figures as they come out on the releases page.

Questions people ask

What is Ghana's inflation rate?

Ghana's headline inflation rate was 5.5 percent in October 2026, according to the Ghana Statistical Service. It was 5.2 percent in September 2026 and 8.0 percent in October 2025.

What does 5.5 percent inflation mean for my money?

GHDatafie calculated that, at a yearly rate of 5.5 percent, something that cost GH₵100 in October 2025 costs GH₵105.5 in October 2026, on average. Your own costs depend on what you buy.

Does lower inflation mean prices are falling?

No. A lower inflation rate means prices are rising more slowly. Inflation fell from 8.0 percent in October 2025 to 5.5 percent in October 2026 (GSS), but prices were still higher than a year earlier.

How is Ghana's inflation rate calculated?

The Ghana Statistical Service compares the national Consumer Price Index for a month with the same month a year earlier and shows the change to one decimal place. Each figure was calculated on the index base in force when published, first 2012 = 100 and then 2021 = 100.

Where can I see Ghana's monthly inflation figures?

GHDatafie shows the series, compiled from Ghana Statistical Service publications, on its CPI inflation series page with a chart of the figures. Figures are as published by GSS and may be revised.

Figures in this article

• CPI inflation, headline, year on year: Source: Ghana Statistical Service (GSS), statsghana.gov.gh. Figures as published by GSS; compiled by GHDatafie, which is independent of and not endorsed by GSS.

Changes and everyday examples are calculated by GHDatafie from the published figures. GHDatafie is independent and is not part of, or endorsed by, the publishers it quotes.