Ghana’s inflation rate drops to 3.8% in January 2026

 

The Ghana Statistical Service (GSS) has announced that the country’s headline inflation rate fell sharply to 3.8 per cent in January 2026 as against 5.4 per cent recorded in December 2024.

According to the latest figures released by Government Statistician, Dr. Alhassan Iddrisu on Wednesday, February 4, 2025, the figure is lowest recorded since the rebasing of the Consumer Price Index (CPI) in 2021 and the 13th consecutive month of decline,

The GSS stated that the CPI rose to 262.3 in January 2026 from 252.6 in January 2025, translating into a year-on-year inflation rate of 3.8 per cent, a 19.7 percentage point drop from the 23.5 per cent recorded in January last year.

The figures showed that both food and non-food inflation eased to 3.9 per cent in January, down from 4.9 per cent and 5.8 per cent respectively in December 2025.

Local media reports noted that there was a slight increase in food prices by 1.1 per cent on month-on-month, while non-food prices dipped by 0.4 per cent.

It added that the breakdown of the CPI basket showed stark contrasts in price movements. While items such as garden eggs and fresh tomatoes saw prices fall by 58.7 per cent and 42.5 per cent respectively, essentials like charcoal and green plantain recorded steep increases of 53.7 per cent and 67.9 per cent year-on-year.

Despite the national decline, inflation varied widely across regions. The North East Region recorded the highest rate at 11.2 per cent, while the Savannah Region experienced deflation at -2.6 per cent. The GSS attributed these gaps to differences in “local supply, transport costs, and market access.”