Inflation Rate in Ghana continued its steady decline in January 2026, highlighting signs of improving macroeconomic stability, according to the Ghana Statistical Service (GSS).
The January 2026 Consumer Price Index (CPI) stood at 262.3, up from 252.6 in January 2025, reflecting a year-on-year inflation rate of 3.8 percent—its 13th consecutive decrease and the lowest since the 2021 rebasing of prices. This marks a significant drop from the 23.5 percent recorded in January 2025 and a 1.6 percentage point reduction from December 2025’s 5.4 percent.
On a monthly basis, inflation was modest at 0.2 percent, indicating a slight rise in prices from December 2025 to January 2026. Dr. Iddrisu Alhassan, Government Statistician, explained that the CPI data is collected from over 8,300 outlets across 57 markets nationwide, covering 307 items organized into various categories. The CPI’s weight reference remains from 2017, with the price reference updated to 2021 to include data from six new regions.
Recent updates to the CPI report include detailed analysis of inflation components, contributions of goods and services, trends over the year, and visual infographics to enhance accessibility. The report also offers policy recommendations to aid decision-makers, businesses, and households.
Dr. Alhassan emphasized that the sustained decline from 23.5 percent to 3.8 percent signifies a strong shift towards macroeconomic stability, positioning Ghana on a positive growth trajectory. The CPI and inflation data are expected to inform fiscal and monetary policies, as well as business and household planning across the country.
