Ghana’s headline inflation rate has dropped further to 8.0 percent in October 2025, marking the tenth consecutive monthly decline and achieving the lowest rate since June 2021.
Key Inflation Figures and Trends
According to data from the Ghana Statistical Service (GSS), the 8.0% figure represents a substantial easing of price pressures, falling 1.4 percentage points from the 9.4% recorded in September 2025. This is a dramatic improvement from the 23.8% rate recorded in December 2024.
The GSS highlighted the following key trends:
Consecutive Decline: The rate has now been on a downward trend for ten straight months.
Month-on-Month: The month-on-month inflation also fell by 0.4%, indicating a modest decline in general price levels across major consumer categories.
Sustained Drivers: The sustained downward trend reflects the impact of a stable currency, easing fuel prices, and improved food supply conditions across the country.
Disaggregated Inflation Data
The GSS report provided a breakdown of the inflation figures across different sectors:
Food Inflation eased by 1.5 percentage points, dropping from 11.0% in September to 9.5% in October.
Non-Food Inflation also saw a notable decline, decreasing by 1.3 percentage points from 8.2% to 6.9%.
While inflation for locally produced items saw a significant drop, suggesting improved price stability in domestic goods, imported inflation edged up slightly to 7.8 percent from 7.0 percent, likely due to global logistics and exchange rate adjustments.
Commentary and Outlook
Speaking at a press briefing in Accra, Government Statistician, Dr. Iddrisu Alhassan, attributed the sustained decline to deliberate policy measures.
“For the first time since June 2021, Ghana has achieved single-digit inflation. This means that the rate at which prices of goods and services are increasing has slowed significantly,” Dr. Alhassan noted.
“We’ve seen improvements across food, transport, and housing categories — key indicators of household welfare.”
The Government Statistician emphasized that the trend reflects the impact of consistent monetary and fiscal measures aimed at stabilizing prices and strengthening the economy.
Economists view the return to single-digit inflation as a positive signal for investor confidence and consumer purchasing power. However, they caution that maintaining the trend will depend on global commodity prices, exchange rate stability, and prudent fiscal management.
Regional Variations
At the regional level, the data revealed significant variations:
The Bono East region recorded the lowest inflation rate of 1.1 percent.
The North East Region posted the highest rate of 17.3 percent, though this was still down from 20.1 percent in September.
