FX.co ★ Ghana’s Yearly Inflation Cools Sharply to 3.8% in January 2026

Ghana’s consumer price inflation eased markedly in January 2026, with the year-over-year Consumer Price Index (CPI) reading slowing to 3.80%, down from 5.40% recorded in December 2025. The data, updated on 4 February 2026, confirm a significant moderation in annual price growth at the start of the year.

Both the current and previous figures are measured on a year-over-year basis, comparing each month’s price level with the same month a year earlier. The January 2026 reading therefore reflects how consumer prices have evolved over the past 12 months, and the decline from December’s rate points to a cooling inflationary trend in Ghana as the new year begins.

For policymakers, investors, and households, the step down in CPI growth may signal easing pressure on purchasing power and could influence expectations around interest rates, fiscal planning, and wage negotiations as 2026 progresses.