The Bank of Ghana says its confidence surveys conducted in August 2026 reflected positive consumer and business sentiments.

This is based on the relatively stable macroeconomic environment and optimism about growth prospects.

According to the Central Bank, the updated Composite Index of Economic Activity (CIEA) recorded a strong annual growth of 14.9% in July 2026, compared to 6.1% in July 2025.

It added that key indicators such as credit to the private sector, international trade activities, and consumption of goods and services contributed to the improvement in the CIEA.

Headline inflation increased to 5.0% in August 2026 from 4.6% in July 2026, driven mainly by non-food inflation.

Non-food inflation rose to 6.8% from 6.1% in July, largely on the back of some pass-through effects from the upward adjustments in utility tariffs and elevated crude oil prices.

In contrast, food inflation has remained low and declined marginally to 3.0%, from 3.1% on the back of improved food supply conditions.

Despite the increase, the Bank of Ghana said headline inflation remained below the lower bound of the medium-term target range of 8 ± 2%.