Ghana’s inflation rate fell sharply to 3.3 percent in February 2026, the lowest level since August 1999 and the 2021 rebasing of the Consumer Price Index (CPI), signaling continued progress toward economic stability. The decline marks the 14th consecutive month of falling inflation from the 23.1 percent recorded in February 2025, according to the Ghana Statistical Service (GSS).
The GSS reported that the CPI for February stood at 264.4, up from 255.9 in the same month last year, while month-on-month inflation registered a modest 0.8 percent, reflecting small price increases between January and February 2026.
Food inflation eased significantly to 2.4 percent from 3.9 percent in January, providing relief to consumers, particularly for staple items. Meanwhile, non-food inflation edged up slightly to 4.0 percent from 3.8 percent. Inflation for goods, which make up nearly three-quarters of the CPI basket, slowed, while services inflation moderated to 3.7 percent.
Regional disparities persisted, with the North East Region experiencing the highest inflation at 8.9 percent, while the Savannah Region recorded a negative 5.6 percent. Key contributors to price pressures included housing, electricity, and education services, as well as commodities such as charcoal, plantain, and ginger. On the other hand, fresh produce like garden eggs, tomatoes, and maize saw sharp declines, helping ease overall food inflation.
Dr Alhassan Iddrisu, Government Statistician, explained that while prices continue to rise, the pace of increase has slowed dramatically compared to last year. “Inflation reduced from 23.1 to 3.3 percent over one year, which does not mean prices have dropped, but that the rate at which prices are increasing has slowed,” he clarified.
Dr Iddrisu advised households to take advantage of the easing inflation to plan budgets more effectively, track spending on essentials like food, rent, and school fees, and save where possible. He also encouraged businesses to invest in efficiency, strengthen local supply chains, and minimize unnecessary costs to maintain price stability.
To sustain the gains, he called on the Government to maintain fiscal discipline and target strategic investments in storage, irrigation, and transport infrastructure to reduce regional disparities and stabilize food prices across the country.
The continued decline in inflation provides hope for consumers and businesses alike, as Ghana moves further away from the high inflation environment that dominated much of 2025.
