Ghana’s annual consumer inflation rate has slowed for the ninth consecutive month, falling to 9.4% year-on-year in September from 11.5% in August, marking its lowest level since August 2021.
According to Government Statistician Alhassan Iddrisu, the decline was primarily driven by easing food prices compared to non-food prices.
This steady drop in inflation signals Ghana is firmly on the path to macroeconomic stability, with the central bank expecting inflation to reach its medium-term target of 6% to 10% in the fourth quarter of 2025.
The gold-, oil-, and cocoa-producing nation is emerging from its most severe economic crisis in decades, and the central bank has slashed its key interest rate by a record 350 basis points to 21.5% in September, citing a sustained decline in inflation and an improving macroeconomic outlook.
