BTA2023 
Ghana’s inflation rate declined to 3.3 per cent in February 2026, marking the 14th consecutive month of decline and the lowest level recorded since the rebasing of prices in 2021, according to the latest Consumer Price Index (CPI) report released by the Ghana Statistical Service.
The Service said the development reflects a sustained easing of price pressures and a gradual return to macroeconomic stability.
“The CPI for Feb 2026 was 264.4… translating into a Year-on-Year (YoY) inflation of 3.3%,” while the figure represents “the 14th consecutive drop in inflation since Jan 2025” and “the lowest inflation since price rebasing in 2021.”
Presenting the report on March 4, 2026, Government Statistician Alhassan Iddrisu noted that prices rose marginally on a month-on-month basis, with inflation increasing by 0.8 per cent between January and February 2026.
The report explained that “on the average, the price of goods and services increased by 3.3% between Feb 2025 and Feb 2026,” while “overall prices increased by 0.8% between Jan and Feb 2026.”
It added that the steady decline from 23.1 per cent in February 2025 to 3.3 per cent in February 2026 “shows a sustained shift in prices, signaling a firm path to macroeconomic stability.”
A breakdown of the data shows that food inflation fell sharply to 2.4 per cent in February 2026 from 3.9 per cent in January, providing some relief to households.
The report stated that “food inflation fell to 2.4% in Feb 2026,” with food prices rising by just 0.2 per cent month-on-month. In contrast, non-food inflation rose slightly to 4.0 per cent from 3.8 per cent, with prices increasing by 1.2 per cent within the month.
The Service observed that although goods inflation slowed to 3.2 per cent, “goods account for nearly ¾ of the CPI basket,” making the decline “a relief for consumers where it matters most.”
The report also highlighted significant regional disparities in price movements across the country.
The North East Region recorded the highest year-on-year inflation rate of 8.9 per cent, while the Savannah Region posted the lowest at minus 5.6 per cent.
According to the GSS, “sharp regional differences persist as inflation is uneven across the country,” noting that “local supply, transport costs, and market access could be driving these gaps.” Greater Accra, Ashanti, and Eastern Regions together accounted for the largest contributions to overall inflation.
In terms of price drivers, items such as charcoal, green plantain, cinema and cultural services, and secondary school fees emerged as major contributors to inflation.
Charcoal recorded a year-on-year inflation rate of 53.1 per cent, while green plantain rose by 67.9 per cent. At the same time, several food items, including garden eggs, pawpaw, and tomatoes, posted significant price declines.
The report’s analysis shows that the top 10 high-inflation items alone contributed nearly half of overall inflation in February.
The Ghana Statistical Service urged households, businesses, and government to consolidate the gains made.
“With inflation easing, families can plan their budgets with greater confidence,” the report stated, encouraging households to track spending on food, rent, and school fees.
It further called on government to “stay the course on fiscal discipline” and “sustain efforts to stabilize food prices,” while urging businesses to invest in efficiency and strengthen local supply chains to help maintain stable prices.
Source: MetroTVOnline
