Ghana’s year-on-year inflation rate declined further to 3.3 per cent in February 2026, down from 3.8 per cent in January 2026, marking the 14th consecutive monthly decline since January last year.
On Month-on-Month (MoM) inflation rate for February 2026 was 0.8 per cent, which meant that the general price level increased by 0.8 per cent between January and February 2026.
The February inflation rate represents the lowest inflation recorded since the rebasing of prices in 2021.
Addressing a news conference in Accra last Wednesday, the Government Statistician, Dr Alhassan Iddrisu, said the steady disinflation reflected improving macroeconomic stability.
“The February 2026 inflation rate is 0.5 percentage points lower than the 3.8 per cent recorded in January 2026 and 19.8 percentage points lower than the 23.1 per cent recorded in February 2025,” he stated.
According to the Government Statistician, the Consumer Price Index (CPI) rose to 264.4 in February 2026 from 255.9 in February 2025, translating into a year-on-year inflation rate of 3.3 per cent. On a month-on-month basis, inflation stood at 0.8 per cent, indicating that the general price level increased by 0.8 per cent between January and February 2026.
Dr Iddrisu said food inflation declined to 2.4 per cent in February 2026 from 3.9 per cent in January 2026 and on a month-on-month basis, food prices surged marginally to 0.2 per cent. Non-food inflation, however, he said, rose slightly to 4.0 per cent from 3.8 per cent over the same period, with non-food prices increasing by 1.2 per cent month-on-month.
Dr Iddrisu said inflation for goods slowed to 3.2 per cent in February 2026 from 3.7 per cent in January 2026. On month-on-month, the Government Statistician said goods prices increased by 0.94 per cent. “Given that goods account for nearly three-quarters of the CPI basket, the slowdown offers significant relief to consumers,” Dr Iddrisu stated.
He said services inflation also eased to 3.7 per cent from 4.2 per cent in January 2026 and on a month-on-month basis, services prices increased by 0.3 per cent.
Dr Iddrisu stated that inflation for locally produced items fell marginally to 4.5 per cent from 4.6 per cent, while inflation for imported items dropped significantly to 0.6 per cent in February 2026 from 2.0 per cent in January 2026.
Touching on regional inflation, the Government Statistician said the North East Region recorded the highest inflation rate at 8.9 per cent, while the Savannah Region registered the lowest rate at negative 5.6 per cent. The GSS attributed these variations to differences in local supply conditions, transport costs, and market access.
Dr Iddrisu urged businesses to invest in operational efficiency, strengthen local supply chains, reduce unnecessary costs, and pass on savings to consumers through stable prices.
To the government, the Government Statistician called for sustained fiscal discipline, continued efforts to stabilise food prices, and targeted investments in storage, irrigation, transport, and market access to address regional imbalances.
“With inflation easing, households can plan their budgets with greater confidence. This is the time to track spending, avoid non-essential expenses, and build savings to strengthen household resilience,” he advised.
BY KINGSLEY ASARE
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