Ghana’s inflation slowed for the 12th consecutive month in December
Ghana’s consumer inflation (GHCPIY=ECI) has slowed for the 12th consecutive month, decreasing to 5.4% year on year in December, down from 6.3% in November, according to the statistics service’s report on Wednesday.
At a press conference, government statistician Alhassan Iddrisu stated that although inflation pressures were decreasing across most major components, this decline was primarily influenced by a reduction in the prices of food and non-alcoholic beverages.
Iddrisu stated, “This steady decline indicates a consistent movement towards price stability and enhanced macroeconomic conditions,” noting that inflation last month hit its lowest point since the rebasing exercise in 2021.
The Bank of Ghana aims for an inflation rate of 8%, allowing for a tolerance band of 2 percentage points on either side.
In December of the previous year, inflation reached 23.8%.
The nation in West Africa, known for its gold, oil, and cocoa production, is recovering from its most significant economic crisis in decades.
In the third quarter of 2025, Ghana’s economy experienced a year-on-year expansion of 5.5%, attributed to advancements in the agriculture and services sectors, as reported by the statistics agency in December.
Last month, the International Monetary Fund finalized the fifth review of the country’s loan programme, enabling an immediate disbursement of approximately $385 million.
