Inflation rate has declined to a 15-month low of 3.2% in March 2026, marking the 15th consecutive month of decline since January 2025.
The latest figures indicate a slight decrease from 3.3% in February and are significantly below the 22.4% recorded a year earlier in March 2025.
Economists note that the slowdown in goods inflation, which fell to 1.7% from 3.2%, provides much-needed relief to consumers, as goods constitute nearly three-quarters of the Consumer Price Index (CPI) basket.
According to a release by GSS at the news Conference by the Government Statistician, Dr. Alhassan Iddrisu overall prices increased marginally by 0.1% between February and March with food inflation edged down to 2.3%, with food prices decreasing by 0.3% month-over-month.
According to him, non-food inflation slightly declined to 3.9% from 4.0%, with non-food prices rising by 0.3%.
Goods inflation slowed notably to 1.7%, with prices dropping by 1.0%, easing pressure on consumers.
“Services inflation, however, rose sharply to 7.2% from 3.7%, with service prices increasing by 0.4%.
Locally produced items experienced inflation at 4.9%, up from 4.5%, while imported goods saw deflation at -0.6%, down from 0.6% in February”.
“Regional disparities are evident, with the North East Region recording the highest inflation at 8.6%, while Savannah experienced deflation at -4.6%. Experts suggest that local supply chain issues, transport costs, and market access influence these regional variations”, he said.
Economists emphasize the need for targeted policies to address regional price disparities and pressures within the service sector, as the mixed trends highlight ongoing challenges in managing inflation across different sectors and regions.
