Ghana’s inflation rate fell sharply in January 2026, easing to 3.8 per cent from 5.4 per cent in December, according to the country’s statistician-general.
Alhassan Iddrisu announced the figures at a press briefing on Wednesday, saying the decline marked a decisive slowdown in price pressures across the economy, Reuters reported.
Iddrisu said the 1.6 percentage-point drop in headline inflation was driven largely by falling food prices, alongside a broad-based moderation in non-food items. Food inflation eased to 3.9 per cent in January from 4.9 per cent a month earlier, while non-food inflation fell more sharply, to 3.9 per cent from 5.8 per cent.
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He described the January reading as the lowest inflation rate recorded since Ghana rebased its consumer price index in 2021, adding that it represented an almost three-decade low.
“The sustained decline signals that Ghana is firmly on a path towards price stability,” Iddrisu said.
Ghana’s inflation has fallen steadily from a record 54.1 per cent in December 2022, following a period of severe economic strain. Inflation closed 2023 at 23.2 per cent, rose again in early 2024, and ended that year at 23.8 per cent before resuming a downward trend.
By September 2025, inflation had dropped to 9.4 per cent, the first single-digit reading since August 2021. The latest figure now places inflation within the Bank of Ghana’s target range of 8 per cent, with a tolerance band of plus or minus two percentage points.
