In January 2026, Ghana’s inflation rate decelerated sharply, falling from 5.4% in December to 3.8%, the lowest level in almost 30 years.
The number was revealed by government statistician Alhassan Iddrisu, who said the decline reflects a broader slowing in price pressures across the nation.
Falling food costs, along with slower growth in nonfood goods, drove most of the moderation. From 4.9 per cent last month, food inflation dropped to 3.9 per cent; nonfood inflation fell more sharply to 3.9 per cent from 5.8 per cent.
Following years of strong price pressures that significantly affected households and businesses, The News Chronicle understands that the most recent inflation figure marks a turning point for Ghana.
Experts argue that the ongoing disinflation trend is restoring public trust in the nation’s macroeconomic policy and in purchasing power.
January’s reading—an almost three-decade low—reflected the lowest since Ghana rebased its consumer price index in 2021, Iddrisu remarked. From a high of 54.1 per cent in December 2022, inflation has gradually declined since the severe financial crisis.
By September 2025, inflation had dropped to single digits for the first time in more than four years.
The January data now place inflation well within the Bank of Ghana’s target range, thereby supporting forecasts of continued price stability over the next few months.
