Economic Milestone: Ghana’s Inflation Hits 30-Year Low as Parliament Battles Over Airport Renaming

ACCRA – In a week of major national shifts, Ghana has recorded its lowest inflation rate in nearly three decades, just as a heated legislative battle begins over the government’s proposal to strip the “Kotoka” name from the nation’s primary international gateway.

A Macroeconomic Triumph

The Ghana Statistical Service (GSS) announced on Wednesday that headline inflation dropped sharply to 3.8% in January 2026. This marks the 13th consecutive month of decline, falling from 5.4% in December 2025. Government Statistician Dr. Alhassan Iddrisu attributed this “macroeconomic turnaround” to falling commodity prices and a significant slowdown in food inflation, which now sits at 3.9%.

This milestone is being hailed by the administration as a sign of restored stability, with the Bank of Ghana responding by cutting the benchmark lending rate to 15.5% to stimulate further growth and private sector investment.

The “Kotoka” Controversy

While the economy cools, the political atmosphere is heating up. Majority Leader Mahama Ayariga officially disclosed plans to lay a bill before Parliament to rename Kotoka International Airport (KIA) back to its original 1958 name: Accra International Airport.

The government argues the change honors the Ga people who provided the land and removes a tribute to Lt-Gen Emmanuel Kwasi Kotoka, whose role in the 1966 coup is seen by many as a stain on Ghana’s democratic identity. Critics, however, have labeled the move a “misplaced priority” and a “costly political distraction” amid the country’s broader infrastructure needs.

What’s Next?

Parliament is expected to begin the first reading of the Airport Bill next week. Simultaneously, the Minister for Transport is slated to introduce the much-anticipated Road Traffic Bill, which seeks to finally legalize and regulate “Okada” (motorcycle taxi) operations across the country.

Reporting for GhanaMedia.net