Ghana’s inflation rate continued its downward trajectory in February 2026, declining to 3.3 percent, marking the lowest level recorded since the 2021 CPI rebasing, the Ghana Statistical Service (GSS) has announced.
The Government Statistician, Dr Alhassan Iddrisu, delivering the February 2026 Consumer Price Index (CPI) and Inflation Report in Accra, said the current rate represented a further fall from the 3.8 percent recorded in January 2026 and a significant 19.8‑percentage‑point drop from the 23.1 percent recorded in February 2025.
Dr Iddrisu said the February figure is the 14th consecutive monthly decline in inflation since January 2025, reflecting a sustained improvement in macroeconomic stability.
Overall consumer prices rose 0.8 percent month‑on‑month between January and February 2026.
Food inflation slowed sharply to 2.4 percent in February, down from 3.9 percent in January. Month‑on‑month food prices increased by 0.2 percent.
Non‑food inflation, however, inched up slightly to 4.0 percent, compared to 3.8 percent in January. Non‑food prices rose 1.2 percent between January and February.
Inflation for goods dipped to 3.2 percent, while that for services eased to 3.7 percent.
Inflation for locally produced goods moderated to 4.5 percent from 4.6 percent in January, while inflation for imported items dropped significantly to 0.6 percent from 2.0 percent.
Sharp disparities persist across regions with the North East Region recorded the highest regional inflation rate at 8.9 percent and the Savannah Region posted the lowest rate at –5.6 percent, indicating large price drops for key items.
Greater Accra, Ashanti, Eastern, Volta and Central regions together contributed more than 90 percent of the national inflation outturn, with Greater Accra alone accounting for over 41 percent.
At the divisional level, inflation was mainly driven by: housing, water, electricity, gas and other fuels, food and non‑alcoholic beverages, and education services.
Among individual items, charcoal, green plantain, and cinema/cultural services remained major contributors to year‑on‑year inflation. Conversely, garden eggs, pawpaw, and fried fish recorded the largest price declines.
The GSS encouraged households to take advantage of the easing inflation to better plan budgets, strengthen savings habits, and monitor spending on essentials such as food, rent, and school fees.
Businesses were advised to invest in operational efficiency and stabilise supply chains, while the government was urged to maintain fiscal discipline and expand investments in irrigation, storage, transport and market access to reduce regional disparities and strengthen price stability.
