Consumer and business confidence in Ghana improved in August 2026, supported by a relatively stable macroeconomic environment and positive expectations about economic growth, the Bank of Ghana (BoG) has said.
The Central Bank’s latest confidence surveys point to improving sentiment, while its updated Composite Index of Economic Activity (CIEA) showed stronger growth in July.
The CIEA recorded annual growth of 14.9 percent in July 2026, up from 6.1 percent in the same month last year.
According to the BoG, the improvement was supported by key economic indicators, including credit to the private sector, international trade activities and consumption of goods and services.
The positive confidence readings, however, came alongside a slight increase in consumer price inflation.
Headline inflation rose to 5.0 percent in August from 4.6 percent in July, mainly due to an increase in non-food inflation.
Non-food inflation increased to 6.8 percent from 6.1 per cent, reflecting, in part, the pass-through effects of upward adjustments in utility tariffs and elevated crude oil prices.
Food inflation, on the other hand, declined marginally to 3.0 percent in August from 3.1 percent in July, supported by improved food supply conditions.
Despite the monthly increase, the BoG said headline inflation remained below the lower bound of its medium-term target band of 6 to 10 percent.
The latest indicators suggest that economic activity and confidence strengthened during the period, although price developments remained mixed, with non-food inflation rising while food inflation eased.
The Central Bank’s survey findings provide an indication of how businesses and consumers view economic conditions and prospects, while the CIEA tracks changes in activity across selected sectors of the economy.
Source: businesspostonline
