Ghana’s inflation rate eased to 23.5% in January 2025, marking a slight decline after four consecutive months of rising inflation, according to data released by the Ghana Statistical Service.
This follows the government’s failure to meet its 2024 year-end inflation target of 15%, as inflation closed the year at 23.8% in December, up from 23.0% in November.
Despite the overall slowdown, food inflation remains a major concern, rising to 28.3% in January 2025, up from 27.8% in December. Meanwhile, non-food inflation continued its downward trend, dropping from 20.3% in December to 19.2% in January.
Providing insights into the latest figures, Government Statistician, Professor Samuel Kobina Annim, explained:
“In January 2025, general price levels of goods and services went up by 23.5%. Between January 2024 and January 2025, general prices increased by 23.5%. This indicates disinflation, as the rate of inflation has slowed by 0.3 percentage points, from 23.8% in December 2024 to 23.5% in January 2025.”
The marginal drop in inflation comes as Ghana continues to grapple with economic challenges, with policymakers closely monitoring inflationary trends to ensure stability in the country’s economic outlook.