Inflation monitor: Ghana rises to 5.3%, keeping the BoG watchful

Consumer price inflation in Ghana stands at 5.3% year on year in the latest reading tracked by CBAN, up from 3.7% in the prior reading.

The pickup narrows the room for manoeuvre around the Bank of Ghana's 14% policy rate. Across African consumer price baskets, food and non-alcoholic beverages typically carry the largest weight, followed by housing, utilities and transport — which is why harvests and fuel prices move headline inflation more here than in advanced economies.

Currency dynamics feed directly into the outlook. The Ghanaian cedi trades near 11.6 to the dollar, down 9.5% this year — a headwind that keeps imported costs elevated.

Real GDP growth is running at around 4.6%, and official reserves stand near $8.9 billion. The next scheduled BoG rate decision is 24 September 2026.

CBAN tracks inflation across every African economy in the interactive inflation dashboard, updated as national statistical releases are incorporated into the dataset.