Ghana’s inflation rate has fallen to 3.3 percent in February 2026, marking the 14th consecutive monthly decline and the lowest level recorded since the Consumer Price Index (CPI) was rebased in 2021, according to the Ghana Statistical Service.
The CPI for February stood at 264.4, up from 255.9 in the same month last year, reflecting a modest year-on-year price increase. Month-on-month, prices rose by just 0.8 percent between January and February. This represents a notable drop from January’s 3.8 percent and a dramatic decrease from the 23.1 percent recorded in February 2025, signalling improving macroeconomic stability.
Breaking down the trends, inflation for food and non-alcoholic beverages slowed to 2.4 percent, down from 3.9 percent in January, while non-food items edged slightly higher to 4.0 percent. Locally produced goods saw inflation ease to 4.5 percent, and imported items recorded a sharper slowdown to 0.6 percent.
Goods inflation declined to 3.2 percent, with services inflation also easing to 3.7 percent. Regionally, the Savannah Region posted the lowest year-on-year inflation at negative 5.6 percent, while the North East Region recorded the highest at 8.9 percent.
Economists say the sustained decline in inflation points to easing price pressures across the economy, reinforcing expectations of continued macroeconomic recovery and stability after the high-inflation environment of 2025.
