Ghana inflation expected to stay below 5% through 2026 as central bank holds rates

Finance Minister Dr. Ato Forson told Bloomberg that Ghana’s inflation should not exceed 5% by the end of 2026, despite a short‑term rise in prices. He cited recent developments in the Middle East and higher crude oil costs as drivers of a modest increase, but said government measures and the upcoming Policy Coordination Instrument are designed to stabilise the economy and improve Ghana’s investment‑grade rating.

Meanwhile, data from the Ghana Statistical Service showed consumer‑price inflation climbed to 3.7% in May – the highest since January – largely due to rising food costs, higher oil and fertiliser prices, and climate‑related disruptions to agriculture. The Bank of Ghana kept its benchmark Monetary Policy Rate at 14% and reiterated its medium‑term target range of 6‑10%, expecting inflation to gradually rise toward that range by the end of 2026.