Ghana’s inflation rate has dropped further to 3.2 percent in March 2026, according to the latest data released by the Ghana Statistical Service.
This marks a slight decline from the 3.3 percent recorded in February 2026 and a significant year-on-year drop from 22.4 percent in March 2025. The latest figures show that the inflation rate has decreased by 19.2 percentage points, reflecting a strong easing of price pressures.
According to the Ghana Statistical Service, this is the lowest Ghana inflation rate recorded since the 2021 rebasing exercise. It also marks the 15th consecutive month of disinflation since January 2025, pointing to improving macroeconomic stability.
Monthly Price Movements
Despite the decline in the annual inflation rate, prices increased slightly by 0.1 percent between February and March 2026.
Food inflation, a key driver of the Ghana inflation rate, dropped to 2.3 percent in March, down from 2.4 percent in February. On a monthly basis, food prices actually declined by 0.3 percent, bringing some relief to households.
Non-food inflation also eased slightly to 3.9 percent, compared to 4.0 percent in February. However, non-food prices rose by 0.3 percent month-on-month, indicating continued pressure in some sectors.
Breaking it down further, inflation for goods slowed significantly to 1.7 percent in March, from 3.2 percent in February, with goods prices falling by 1.0 percent month-on-month.
However, locally produced goods recorded an increase in inflation to 4.9 percent, up from 4.5 percent, suggesting rising domestic cost pressures. In contrast, inflation for imported goods dropped sharply to minus 0.6 percent, compared to 0.6 percent in February.
The continued decline in the Ghana inflation rate is expected to support economic stability and ease the cost of living for many Ghanaians.
