"Overall prices increased marginally by 0.1% between February and March" — Government Statistician

Ghana’s inflation rate has dropped to 3.2% in March 2026, the lowest level recorded in the past 15 months, extending a steady downward trend that began in January 2025.

This represents a slight decline from the 3.3% recorded in February and a significant reduction compared to the 22.4% reported in March last year, highlighting a continued easing of price pressures across the economy.

Addressing a press briefing, Government Statistician, Dr. Alhassan Iddrisu, explained that prices remained largely stable over the period under review, with only a minimal increase on a month-on-month basis.

“Overall prices increased marginally by 0.1% between February and March,” he noted.

The moderation in inflation was largely driven by a sharp slowdown in goods inflation, which fell to 1.7% from 3.2% in February.

Since goods make up a substantial portion of the Consumer Price Index (CPI), this decline is expected to ease the burden on households.

Food inflation also recorded a slight decrease to 2.3%, with prices dropping by 0.3% compared to the previous month.

Similarly, non-food inflation edged down marginally to 3.9% from 4.0%, even though prices in that category rose by 0.3%.

However, the services sector presented a contrasting trend, with inflation surging to 7.2% from 3.7%, driven by a 0.4% increase in service costs.

Dr. Iddrisu further disclosed that inflation for locally produced goods rose to 4.9% from 4.5%, while imported goods recorded deflation of -0.6%, reversing the 0.6% inflation seen in February.

The report also highlighted notable regional differences in price movements.

The North East Region posted the highest inflation rate at 8.6%, whereas the Savannah Region recorded deflation of -4.6%.

He attributed these disparities to challenges such as supply chain disruptions, transportation costs, and limited market accessibility in certain areas.

Economists believe that while the overall outlook is encouraging, focused policy measures will be necessary to address rising costs in the services sector and to tackle uneven inflation trends across regions.

Story by: Joshua Kwabena Smith and Hawa Abubakar