The Minister of Government Communications, Felix Kwakye Ofosu, has said that the National Democratic Congress (NDC) has the best record in terms of economic management.
He said that it is under an NDC administration that Ghana recorded the highest annual cedi appreciation of 40.7% against the dollar in 2025
“On the back of the 3.8% inflation rate recorded for January, 2026, it bears placing on record that the NDC has the best economic record under the fourth republic as follows.
“Highest growth rate of 14.4% in 2011. Lowest inflation rate of 2.9% in April 1999. Longest sustained single digit inflation of 33 months from 2010 to 2012. Highest annual cedi appreciation of 40.7% against the dollar in 2025. Largest reserves of $ 13.8 billion as of end 2025. Highest import cover of 5.7 months as of end 2025 among others.
“There are those who make hubris-laden claims of pretenatural economic management ability but delivered the most disastrous outcomes in decades. Always check the records,” he wrote on Faceboo.
In view of the drop in inflation rate, the Government Statistician, Dr Alhassan Iddrisu, has told the government of Ghana to sustain fiscal discipline and to also continue efforts to stabilise food prices.
The GSS Boss also urged the government to invest in storage, irrigation, transport, and market access to reduce regional disparities.
“Easing inflation provides room to invest in efficiency, strengthen local supply chains, reduce unnecessary costs, and translate savings into more stable prices for consumers,” Dr Iddrisu said after announcing that the year-on-year inflation rate for January 2026 stood at 3.8%.
To households, he said, “This is a good time to plan budgets with greater confidence, prioritise essentials, avoid non-essential spending, and save
where possible.”
“The government should also sustain fiscal discipline, continue efforts to stabilise food prices, and invest in storage, irrigation, transport, and
market access to reduce regional disparities,” he added.
The 3.8% imnflation represents a significant decline from 23.5% recorded in January 2025, underscoring a sustained slowdown in price increases across the economy.
The data show that the CPI for January 2026 rose to 262.3, up from 252.6 in January 2025, translating into the 3.8% year-on-year inflation rate. On a month-on-month basis, inflation was 0.2%, indicating that the general price level increased marginally between December 2025 and January 2026.
January 2026 inflation marks the 13th consecutive decline in year-on-year inflation and is the lowest rate recorded since the CPI rebasing in 2021. It also represents a 1.6 percentage point drop from the 5.4% inflation recorded in December 2025, and a sharp 19.7 percentage point decline compared to January 2025.
Food inflation, a major driver of household cost pressures in Africa’s second-largest cocoa producer, also eased further, declining to 3.9% in January 2026 from 4.9% in December 2025. The moderation reflects softer price movements across key staples, supported by improved supply conditions.
Non-food inflation followed a similar downward trend, dropping sharply to 3.9% from 5.8% in December 2025. The decline points to easing cost pressures in housing, transport, utilities and other core consumer categories.
Regionally, inflation outcomes remained mixed. The Savannah Region recorded the lowest inflation rate at negative 2.6%, indicating outright price declines, while the North East Region posted the highest inflation at 11.2%, underscoring persistent spatial disparities in price dynamics.
The sustained disinflation comes just weeks after the Bank of Ghana cut its policy rate by 250 basis points to 15.5%, a move that now appears aligned with emerging price trends and could shape expectations ahead of future monetary policy decisions.
Speaking at a press briefing in Accra, the Government Statistician, Dr Alhassan Iddrisu, urged government to maintain fiscal consolidation efforts to help sustain the gains made in stabilising prices and strengthening macroeconomic conditions.
The steady fall in inflation from 23.5% in January 2025 to 3.8% in January 2026 reflects a broad-based easing in price pressures and points to improving macroeconomic conditions.
