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Alhassan Iddrisu, Ghana’s statistician-general, says the country’s inflation rate fell sharply in January 2026, easing to 3.8 percent from the 5.4 percent recorded in December 2025.
Iddrisu spoke at a press conference on Wednesday, according to Reuters.
He said the 1.6 percentage-point decline in headline inflation was largely driven by a sustained slowdown in food prices, alongside a broad moderation in non-food inflation.
The statistician-general said food inflation eased to 3.9 percent in January from 4.9 percent in December, reflecting lower price pressures across key food items.
Similarly, non-food inflation reportedly decelerated significantly, dropping to 3.9 percent from 5.8 percent in the previous month.
Iddrisu said this is the lowest inflation rate recorded since Ghana’s consumer price index was rebased in 2021, with the latest report marking an almost three-decade low.
“The sustained signals that Ghana is firmly on a path towards price stability,” he said.
The recent decline follows a continued drop in inflation from a record rate of 54.1 percent in December 2022.
After closing 2023 at a rate of 23.2 per cent, Ghana’s inflation rate peaked in January 2024 and sustained the pace within the same level, ending the year at an inflation rate of 23.8 per cent.
However, the nation’s inflation rate dropped to 9.4 percent in September 2025 — the first single-digit rate since August 2021.
The Bank of Ghana is said to be targeting an inflation rate of 8 percent, with a tolerance band of plus or minus two percentage points, suggesting current levels are now within the central bank’s desired range.
