Ghana has hit a single digit inflation, according to the Ghana Statistical Service, well within the government’s target band of between 6% and 10% by year end. This announcement was made by Government Statistician Dr. Alhassan Iddrisu who presented an update to the consumer price figures on Wednesday. September 2025 recorded a sharp decline in the headline, year on year inflation, to 9.4 percent from 11.5 percent in August year-on-year, marking the ninth consecutive drop in inflation and the lowest since August 2021. The national statistics bureau noted, the inflation drop from 23.8% in December 2024 to 9.4% in September 2025 “shows a sustained shift in prices that signals Ghana is firmly on the path to macroeconomic stability”, with Dr. Iddrisu further noting the declining pressures driving inflation over the past months.
Food inflation which hitherto was a major driver of high inflation in Ghana saw a decline to 11% year on year in September from 14.8% in August y/y. This is still above the national average but the decline has shown remarkable progress owing to the glut in food stuffs following this season’s harvest. Non-food inflation also fell from 8.2% in September from 8.7% in August. The decline in the year-on-year inflation as of September 2025 represents a 2.1 percentage point drop from the August figures, and a 14.4 percentage points drop from December 2024’s inflation rate of 23.8%.
Inflation for locally produced items continued to outstrip the headline inflation rate due to factors such as the cost of transportation and price margin of middle men in September, although recording a drop from 12.2% to 10.1%. Imported inflation saw a single-digit drop from 9.5% to 7.4% in September.
In the regions, though, North East Region posted the highest inflation of 20.1% which is more than double the national average. Upper West Region follows with the second highest inflation of 14.9% then Western North Region at 12.2%. Bono East Region on the other hand has the lowest inflation in the entire country with a rate of 1.2%. Greater Accra Region registered an inflation rate of 7.7%.
To sustain the single-digit gain, however, the GSS has recommended that government should remain on course with its fiscal disciple while providing necessary incentives requisite to driving food prices further downwards, and should “tackle regional disparities”. For households, it behooves on them to “take advantage of the falling inflation to plan ahead” by embarking on cost cutting measures such as shopping in bulk for food items and avoid impulse buying. Businesses have been urged to use the period of disinflation to improve competitiveness by investing in efficiency and local supply chains; cut waste, strengthen sourcing from local producers and reposition to grow as the economy stabilizes, and pass on the cost savings to consumers.
