Business and consumer confidence in Ghana have seen a steady pickup, supported by easing inflation and improving macroeconomic conditions.

The Business Confidence Index rose to 110.1 in February 2026, up from 107.5 recorded in December 2025, while the Consumer Confidence Index climbed to 117.7, also up from 116.4 recorded in December 2025.

Both indicators point to growing assurance about household income stability and the general economic outlook, according to data released by the Bank of Ghana.

The data from the Central Bank point to a broad-based improvement in sentiment, as firms report stronger demand conditions and improved short-term prospects.

The steady rise in business confidence reflects growing optimism among firms that macroeconomic stability is taking hold, supported by declining inflation, easing interest rates, and a more stable currency environment.

On the consumer side, households are showing renewed confidence, buoyed by improving purchasing power as price pressures ease significantly from over 23 percent a year ago to current levels.

This sharp disinflation has become a key anchor for expectations, helping to restore some level of certainty for both spending and investment decisions.

However, risks remain on the horizon. Ongoing geopolitical tensions in the Middle East continue to pose a threat to global petroleum supply, with potential spillover effects on fuel prices, transport costs, and overall shipping expenses — factors that could quickly feed back into domestic inflation.

Such external shocks could test the resilience of the current confidence rebound, particularly for businesses already contending with cost pressures and tight credit conditions.

Sustaining the gains will require continued policy discipline, stable inflation, and measures to cushion the economy from global commodity price shocks