Ghana’s headline inflation eased to 3.2 per cent year-on-year in March 2026, down from 3.3 per cent in February, marking the lowest reading since the Consumer Price Index was rebased in 2021.
The slight decline reflects continued easing in price pressures as the country stabilises after a severe recent economic shock.
Food prices were the main driver of the slowdown, while some non-food components recorded modest increases during the month.
Petrol prices rose by 3.1 per cent month-on-month in early March, underscoring the risk that global energy shocks could reverse recent gains.
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The Ghana Statistical Service said the March reading signals a steady and sustained movement towards stability, according to government statistician Alhassan Iddrisu.
The Bank of Ghana has cut policy rates since July 2025 as inflation moderated, trimming the main policy rate in stages to support recovery while monitoring price dynamics.
Despite the disinflation momentum, external risks remain elevated.
Rising global fuel costs tied to geopolitical tensions could push domestic prices higher in the coming months.
Sustaining the gains will depend on continued macroeconomic stabilisation, prudent fiscal management, and resilience to energy-price swings.
Regional comparisons show mixed trends, with some neighbouring economies recording higher inflation earlier in 2026.
