Dr. Alhassan Iddrisu
The country’s Consumer Price Index (CPI) for January 2026 stood at 262.3, up from 252.6 in January 2025. This increase in the index translates into a year-on-year inflation rate of 3.8%, the lowest since 2021.
??On a month-on-month basis, inflation was 0.2%, meaning prices increased by 0.2% between December 2025 and January 2026.
??Government Statistician, Dr. Alhassan Iddrisu, presenting the data yesterday in Accra, stated that the January 2026 inflation rate of 3.8% is significant for several reasons.
“Firstly, it is down from the 5.4% recorded in December 2025, representing a 1.6% decline in one month. Secondly, it marks the 13th consecutive month of decline in inflation,” he added.
????Elaborating on food inflation, he said that, the year-on-year food inflation was 3.9%, down from 4.9% in December 2025.
??”This tells us that food prices are rising much more slowly than they were a few months ago. On a month-on-month basis, food prices increased by 1.1% between December 2025 and January 2026. This likely reflects seasonal factors, including post-harvest adjustments, higher demand at the beginning of the year, among others”, he explained.
????Non-food inflation declined from 5.8% in December 2025 to 3.9% in January 2026. More importantly, on a month-on-month basis, non-food prices fell by 0.4%, meaning, prices of items such as petrol, diesel, baby diapers, gas, and charcoal, which all belong to the category, declined over the month.
??”This decline played a major role in keeping overall inflation low”, he added.
??He indicated that, Inflation for goods slowed to 3.6% (down from 5.8% in Dec 2025), while services inflation eased to 4.0% (from 4.5%). Locally produced items’ inflation fell to 4.5%, while imported items’ inflation dropped to 2.0%.
??On regional inflation North East Region recorded the highest inflation (11.2%) and Savannah recorded the lowest inflation (negative 2.6%).
??He went on to say that, top contributors to inflation were of charcoal, green plantain, smoked herrings, etc. (making 52% of overall inflation).
?”Bottom contributors to inflation include Garden eggs (negative 58.7%), fried plantain (negative 50.7%), etc. (dragging inflation down by 24%),” he stated.
????Dr. Iddrisu explained that, the data suggests region-specific solutions are needed to address inflation effectively, given the disparities across regions.
??He said, it’s important for the government to sustain the fiscal discipline, continue efforts to stabilise food prices, and invest in storage, irrigation, transport, and market access to reduce regional disparities
??”For households, this is a good time to plan budgets with greater confidence, prioritise essentials, avoid non-essential spending, and save where possible”, Dr. Iddrisu added.
?By Janet Odei Amponsah
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