The inflation rate experienced a decline to 3.8 percent in January 2026, marking the 13th consecutive drop and the lowest rate since the rebasing of prices in 2021.
This information is according to the latest Consumer Price Index (CPI) data, which reported inflation at 5.4 percent in December 2025.
The CPI rose to 262.3 in January 2026, from 252.6 in January 2025, reflecting a year-on-year inflation rate of 3.8 percent.
It represents a 19.7 percentage-point decrease from the 23.5 percent recorded in January 2025 and a 1.6 percentage-point decline from the previous month. On a month-on-month basis, inflation stood at 0.2 percent, indicating a marginal increase in the general price level between December 2025 and January 2026.
Furthermore, year-on-year food inflation decreased to 3.9 percent in January 2026, down from 4.9 percent in December 2025, while non-food inflation eased to 3.9 percent from 5.8 percent over the same period, with non-food prices recording a 0.4 percent month-on-month increase.
Inflation for goods slowed to 3.6 percent, and services inflation eased to 4.0 percent, down from 4.5 percent in December 2025, although services prices rose by 0.3 percent month-on-month.
The data highlighted a sharper slowdown in inflation for locally produced items, which fell to 2.0 percent, compared with 4.3 percent for imported goods.
Regional variations were observed, with one region at 11.2 percent and the Savannah Region posting the lowest at 2.6 percent, attributed largely to differences in local supply conditions, transport costs, and market access.
However, majority of Ghanaians in their public opinion asserts that the drop does not necessarily reflects the real condition and standard of living, citing harsh and unrelatable economy. Analysts believes the situation has stabilized as compared to years past.
The finance ministry has assured of adequate and prudent economic measures to ease the sufferings of the ordinary Ghanaian.
