Ghana’s inflation rate fell to 3.3% in February 2026, marking the 14th consecutive monthly decline and the lowest level since the Consumer Price Index (CPI) was rebased in 2021, according to the Ghana Statistical Service. This represents a 19.8-percentage point drop from 23.1% in February 2025, highlighting a sustained moderation in price pressures across the country.
Presenting the figures during an online briefing, Government Statistician Dr Alhassan Iddrisu said the CPI increased from 255.9 in February 2025 to 264.4 in February 2026, translating into the 3.3% year-on-year inflation rate. Month-on-month, prices edged up modestly by 0.8% between January and February 2026.
“The steady drop from 23.1% to 3.3% shows a sustained shift in prices, signalling a firm path to macroeconomic stability,” Dr Iddrisu said.
Food and non-alcoholic beverage inflation slowed to 2.4%, down from 3.9% in January, offering some relief for households. Non-food inflation, however, edged up slightly to 4.0% from 3.8% over the same period.
Locally produced goods recorded inflation of 4.5%, marginally below January’s 4.6%, while imported inflation fell sharply to 0.6%, indicating reduced pressure from external price factors. Goods inflation slowed to 3.2%, and services inflation eased to 3.7%. Given that goods account for nearly three-quarters of the CPI basket, the slowdown provides considerable relief for consumers.
Despite the national decline, inflation varied across regions. The Savannah Region recorded the lowest rate at -5.6%, signaling falling prices, while the North East Region had the highest at 8.9%. Greater Accra, with the highest CPI weight of 28.5%, recorded 4.8% and contributed 41.5% to national inflation. Ashanti and Eastern Regions contributed 24% and 19.2%, respectively.
Dr Iddrisu attributed these differences to local supply conditions, transport costs, and market access.
Among individual items, charcoal and plantain were the top contributors to inflation, despite month-on-month price declines.
Dr Iddrisu said the easing of inflation provides opportunities for businesses to improve efficiency, strengthen local supply chains, and stabilise consumer prices. For households, he advised careful budgeting and modest savings. He urged government to maintain fiscal discipline, continue stabilising food prices, and invest in storage, irrigation, transport, and market access to reduce regional disparities.
06_February 2026 CPI COICOP Annexes
