Consumer and business sentiment improves in Ghana — MyJoyOnline

In Ghana, the Bank of Ghana reported positive consumer and business sentiment based on surveys conducted in August 2026. As MyJoyOnline writes, the central bank linked this to relative macroeconomic stability and optimism about economic growth prospects.

Economic activity growth

The updated Composite Index of Economic Activity rose by 14.9% year-on-year in July 2026. By comparison, its annual growth in July 2025 was 6.1%.

The Bank of Ghana said that private-sector lending, international trade, and the consumption of goods and services contributed to the improvement in the indicator.

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Inflation accelerated

Headline inflation rose to 5% in August 2026, compared with 4.6% in July. The main factor was an acceleration in non-food inflation, from 6.1% to 6.8%.

The central bank explained the rise in non-food inflation by the impact of higher utility tariffs and high oil prices. At the same time, food inflation declined slightly, to 3% from 3.1%, due to improved food supply conditions. Despite the acceleration in August, headline inflation remained below the lower bound of the Bank of Ghana’s medium-term target range of 8% ± 2 percentage points.