Ghana’s consumer inflation rate reduced further to 3.3 percent year on year in February, a 0.5 percentage-point decline compared to the 3.8 percent recorded the previous month, according to data from the Ghana Statistical Service (GSS) on Wednesday.
“This is the 14th consecutive decline in inflation since January last year,” said Government Statistician Alhassan Iddrisu during a press briefing in Accra, the Ghanaian capital.
According to Iddrisu, the decline in the inflation rate is due to the fall in food inflation during the month under review.
“Compared to January, food inflation declined 1.5 percentage points to 2.4 percent in February, while non-food inflation increased 0.2 percentage points to 4.0 percent from the previous month’s level of 3.8 percent,” Iddrisu said.
Meanwhile, the inflation rate for locally produced and imported items stood at 4.5 percent and 0.6 percent, respectively, in February, compared to 4.6 percent and 2.0 percent, respectively, a month earlier.
Ghana’s inflation rate fell steadily from 23.5 percent in Jan. 2025 to the current rate of 3.3 percent as the country’s central bank maintains a strong monetary policy stance to tame price hikes and ensure a stable macroeconomic environment.