February was the second consecutive month that inflation has slowed, since reaching a more than two-decade high of 54.1% in December.
The central bank has hiked its main lending rate by 13.5 percentage points in the past year in an effort to contain price rises.
Ghana is facing its worst economic crisis in a generation and is in the process of restructuring its debt in order to secure a $3 billion loan from the International Monetary Fund.
It has also tried to shore up its currency, the cedi, which has fallen in the face of inflation and other factors.
